R&F Properties' Chongqing Subsidiary Faces Legal Action Over Loan Default

Stock News05-19

R&F PROPERTIES (02777) has announced that Chongqing Chiwei Real Estate Co., Ltd. (the plaintiff) has filed a lawsuit with the Chongqing Shapingba District People's Court against Guangzhou R&F Properties (Chongqing) Co., Ltd. (the defendant) for failing to fulfill loan repayment obligations. The plaintiff's claims include: (1) ordering the defendant to repay the principal loan amount of RMB 303.4 million; (2) ordering the defendant to pay overdue interest of RMB 5,389,602.23 and compound interest of RMB 25,381.46 for the loan period up to February 6, 2026; (3) ordering the defendant to pay penalty interest and compound interest for late repayment. (The total amount for claims 1-3, calculated provisionally up to March 4, 2026, is RMB 310,251,704.97.) (4) granting the plaintiff priority in compensation from the proceeds of the discount, auction, or sale of the defendant's land plots located in parcels E6-2-3/04 and E6-2-9/04, Zone E, Xiyong Group, Shapingba District, Chongqing (certificate number: Yu 2023 High-tech Zone Real Property Right No. 000597472), within the scope of the claims in items 1-3 and the costs of realizing the claims; (5) granting the plaintiff priority in compensation from the sales proceeds of the remaining inventory of the "R&F City (Group 3A, Group 3B, Group 3C, Building B7 of Group 2R) Project" starting from February 6, 2023; and (6) ordering the defendant to bear the costs of realizing the claims, including litigation fees, preservation fees, preservation guarantee fees, and attorney fees. As of now, the case is in the first-instance proceedings and has not yet been adjudicated.

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The plaintiff's claims include: (1) ordering the defendant to repay the principal loan amount of RMB 303.4 million; (2) ordering the defendant to pay overdue interest of RMB 5,389,602.23 and compound interest of RMB 25,381.46 for the loan period up to February 6, 2026; (3) ordering the defendant to pay penalty interest and compound interest for late repayment. (The total amount for claims 1-3, calculated provisionally up to March 4, 2026, is RMB 310,251,704.97.) 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(the plaintiff) has filed a lawsuit with the Chongqing Shapingba District People's Court against Guangzhou R&F Properties (Chongqing) Co., Ltd. (the defendant) for failing to fulfill loan repayment obligations. The plaintiff's claims include: (1) ordering the defendant to repay the principal loan amount of RMB 303.4 million; (2) ordering the defendant to pay overdue interest of RMB 5,389,602.23 and compound interest of RMB 25,381.46 for the loan period up to February 6, 2026; (3) ordering the defendant to pay penalty interest and compound interest for late repayment. (The total amount for claims 1-3, calculated provisionally up to March 4, 2026, is RMB 310,251,704.97.) 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