Yonghui Superstores to File Arbitration Against Dalian Yujin Over 300 Million Yuan Debt

MT Newswires Live10-14

Yonghui Superstores (SHA:601933) plans to start an arbitration against Dalian Yujin Trading after the latter did not settle its remaining payment for the acquisition of a stake in Dalian Wanda Commercial Management Group, according to an Oct. 11 filing on the Shanghai Stock Exchange.

Dalian Yujin has not yet paid the fourth installment of the payment, amounting to 300 million yuan, as of the announcement date. The deadline was on Sept. 30.

Yonghui also sent a notice of accelerated maturity to the buyer of the stake.

The arbitration case will be filed with the Shanghai International Economic and Trade Arbitration Commission, the filing said.

In December 2023, the Chinese supermarket chain sold 388.7 million shares in Dalian Wanda to Dalian Yujin for 4.53 billion yuan.

Shares of Yonghui rose more than 1% in recent trade.

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