Yida China (3639) Reports Litigation Involving Subsidiaries and Great Wall AMC

Bulletin Express02-02 23:07

Yida China Holdings Limited (the “Company”) (Stock Code: 3639) announced details regarding ongoing legal proceedings involving its subsidiaries and Great Wall AMC. According to the announcement, the Company’s subsidiaries, Dalian Shenghe and Dalian Rongda, did not repay a loan within the stipulated time under an existing debt restructuring agreement.

Great Wall AMC filed a civil complaint in the People’s Court of Huangpu District of Shanghai against Dalian Shenghe, Dalian Rongda, and Yida Development, seeking repayment of a principal amount of RMB294 million, along with contractual gains, liquidated damages, and penalty interest up to the date of actual repayment. The plaintiff also asserts priority in compensation through auction or sale of collateral and seeks joint and several guarantee liability from Yida Development, with the defendants collectively bearing litigation costs.

The Company indicates that it is pursuing legal advice and actively negotiating repayment arrangements. It will continue to track litigation developments and release additional announcements as appropriate. The announcement reminds investors to be aware of related risks when dealing in the Company’s securities.

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