Core Viewpoint - The court ruled the pledge contract between Shengda Forestry and Xiamen International Bank invalid, but did not support Shengda Forestry's claims for fund return and compensation for fund occupation losses [1][3][4]. Group 1: Legal Dispute Overview - The legal dispute over the pledge contract has lasted for five years, originating from a 2017 loan of 500 million yuan from Xiamen International Bank to Shengda Group, which was improperly handled by the then-actual controller Jiang Changzheng [1][3]. - The court's second-instance ruling confirmed the invalidity of the pledge contract but rejected all other claims from Shengda Forestry, including the return of funds [4]. Group 2: Financial Implications - The case involves over 500 million yuan, with the initial loan amount being 500 million yuan and the forced deduction by the bank amounting to 507 million yuan [3]. - Shengda Forestry's financial performance showed a revenue of 467 million yuan in the first half of the year, representing a year-on-year increase of 78.26%, and a net profit of 14.07 million yuan, marking a turnaround from losses [5]. Group 3: Historical Context and Management Issues - The company has been affected by a series of violations by former actual controller Jiang Changzheng, leading to risk warnings and a change in stock designation to "ST Shengda" [5]. - Jiang Changzheng and his family members were sentenced for various crimes, including harming the interests of the listed company, which has contributed to the company's ongoing legal and financial challenges [5].