YIDA CHINA (03639) Seeks Legal Advice and Actively Negotiates Repayment Arrangement for Outstanding Loan Principal and Accrued Interest

Stock News12-22 20:20

YIDA CHINA (03639) announced that its subsidiaries, Rongtai Company and Zhengzhou Yida, have failed to repay the principal and corresponding interest on a loan from Northern Trust. Recently, the subsidiaries received a "Civil Complaint" from the Second Intermediate People's Court of Tianjin, filed by Northern Trust (plaintiff) against Rongtai Company (first defendant, borrower, mortgagor), Zhengzhou Yida (second defendant, co-repayer, mortgagor), Dalian Software Park Rongyuan Development Co., Ltd. (third defendant, mortgagor), and Dalian Jiada Technology Development Co., Ltd. (fourth defendant, mortgagor).

The plaintiff demands: (i) The first and second defendants repay the outstanding loan principal of approximately RMB 482 million and corresponding interest, penalty interest, and default fees, totaling around RMB 612 million as of September 21, 2025; (ii) The plaintiff has priority in compensation from the proceeds of the mortgaged assets provided by the mortgagors, either through discounting, auction, or sale, within the agreed mortgage amount; and (iii) The first and second defendants bear the expenses incurred by the plaintiff in enforcing the debt.

The company is currently seeking legal advice and actively negotiating repayment arrangements for the outstanding loan principal and accrued interest. It will continue to monitor the progress of the legal proceedings and will issue further announcements as necessary.

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