Sunny Loan Top (SHA:600830) unit Shanghai Xiangyi Pawnbroking filed a lawsuit against Fuxing Group and its guarantor to recover an unpaid principal of 31 million yuan and penalties related to a stock-backed pawn loan.
The loan, originally for 50 million yuan, matured in July 2025, according to a Thursday filing with the Shanghai bourse.
The lawsuit seeks repayment, penalties, legal fees and the right to liquidate 58.5 million pledged shares.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments