JIU RONG HOLD's subsidiary sued by Bank Of Communications to recover over 94.5 million RMB

AASTOCKS
2026.04.20 14:44

JIU RONG HOLD (02358.HK) announced that on April 20, it received a subpoena and notice of response from the People's Court of Shangcheng District, Hangzhou. The plaintiff, Bank of Communications, filed a lawsuit against the group's subsidiary, Green Cloud, requesting the court to order Green Cloud to repay the principal of the loan amounting to RMB 49 million; to declare that the loan of RMB 45.5 million is due early; and that the plaintiff has the right to priority compensation from the proceeds of the sale of 31 mortgaged properties located in Building 6, Liuhe Jinzuo, Hangzhou, under Green Cloud. The court has scheduled a hearing for May 13. The group's management will actively communicate with the plaintiff to explore the possibility of reaching a settlement

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