On July 29, Fujian Sanmu Group Co.,Ltd. (000632.SZ, referred to as ST Sanmu) disclosed a notice regarding a major lawsuit. According to the announcement, the company and its wholly-owned subsidiary, Fujian Sanmu Construction Development Co., Ltd. (referred to as Sanmu Construction Development), have been sued by CITIC Bank Fuzhou Branch over financial loan contract disputes, with the total amount involved approximately 77.8004 million yuan. The case is scheduled for trial on August 17, 2026.
In February 2026, Sanmu Group and its wholly-owned subsidiary, Sanmu Construction Development, separately signed Renminbi Working Capital Loan Contracts with CITIC Bank Fuzhou Branch, with principal amounts of 7 million yuan and 70 million yuan, respectively. Both loans were declared due early by the plaintiff, CITIC Bank Co., Ltd. Fuzhou Branch, due to failure to pay interest on time.
Specifically, the first case is a financial loan contract dispute involving Sanmu Group. The plaintiff's claim requests the court to order the company to repay a loan principal of 7 million yuan plus interest (temporarily calculated at 70,900 yuan as of June 5, 2026, with a request for payment until actual repayment), pay legal fees of 14,000 yuan, and bear all litigation costs for this case, with a total subject matter of 7.0849 million yuan.
The second case is a financial loan contract dispute involving Sanmu Construction Development. The plaintiff's claim requests the court to order Sanmu Construction Development to repay a loan principal of 70 million yuan plus interest (temporarily calculated at 687,500 yuan as of June 5, 2026, with a request for payment until actual repayment), pay legal fees of 28,000 yuan, and bear all litigation costs for this case. Additionally, Sanmu Group is to assume joint and several guarantee liability for the above debt.
As of the date of this announcement, the court has accepted the case for filing, but the trial has not yet commenced. Furthermore, as of the date of this announcement, the total amount involved in other small-sum lawsuits and arbitration matters that do not meet the disclosure threshold for Sanmu Group and its subsidiaries is approximately 82.2052 million yuan, accounting for 68.14% of the company's most recent audited net assets.
Sanmu Group stated that regarding the above lawsuits, the company is actively communicating and negotiating with relevant parties, and will proceed with the legal process in accordance with the law to protect the legitimate rights and interests of the company and its shareholders. Given that the case has not yet been tried, the outcome of the lawsuit is uncertain, and it cannot yet be determined the impact on the company's current or future profits.
Previously, the company disclosed its semi-annual performance forecast for 2026, which indicated that the company expects a net loss attributable to the parent company of 770 million to 930 million yuan for the first half of the year, compared to a loss of 105 million yuan in the same period last year, marking a significant year-on-year decline of 633.83% to 786.32%.
Public information shows that Sanmu Group is a veteran state-owned listed enterprise in Fujian, listed on the Shenzhen Stock Exchange in 1996. Its main business covers import and export trade, urban industry operations, property management, and venture capital, with business operations spanning multiple domestic provinces and cities. Leveraging its local state-owned background, the company has long been deeply involved in regional real estate and commerce, with years of industry operational experience.
According to Dazhi Hui VIP, as of the close on July 29, ST Sanmu shares were reported at 3.18 yuan per share, up 6%.
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