Core Viewpoint - Jiu Rong Holdings (02358.HK) is currently involved in five legal lawsuits initiated by Hangzhou United Rural Commercial Bank, resulting in the freezing of bank accounts of several subsidiaries, which has impacted the company's cash flow and liquidity [1][2]. Group 1 - The total amount of frozen bank deposits is approximately RMB 12,721,423, which accounts for about 1.75% of the company's most recent audited current assets [1]. - The board is assessing the impact of the lawsuits and the frozen bank accounts on the company's overall operations, with further evaluations pending [2]. - The management is actively negotiating with the plaintiff's bank to reach a settlement regarding loan arrangements and potential defaults, including repayment methods and extending repayment deadlines [2]. Group 2 - The company is also engaging with other banks to minimize the impact of cross-defaults and to protect its assets and operations within the legal framework [2]. - As of the announcement date, the board is not aware of any other financing arrangements triggering cross-defaults [2]. - The board is committed to taking all feasible actions to safeguard the interests of the company's shareholders [2].