Shenzhen Bauing Construction Holding Group's (SHE:002047) unit Shenzhen Baoying Construction Group filed a lawsuit in Danzhou, Hainan, seeking payment of 163.7 million yuan for unpaid project fees and guarantees for four completed decoration projects on Hainan Haidong Island, according to a Friday filing with the Shenzhen bourse.
The defendants include local development and investment companies tied to Evergrande (HKG:3333). The court has accepted the case but has not yet set a trial date. The financial impact on the company remains uncertain and will depend on the court's ruling.
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