CASIN Real Estate Development Group Co Ltd

ST Development released its 2026 interim report, with net profit attributable to the parent company at a loss of 50.2 million yuan, an increase of 45.76 million yuan compared with the same period last year. Total operating revenue was 64.14 million yuan, down 64.28 percent year on year. Net cash outflow from operating activities was 19.24 million yuan, up 119.67 percent year on year. The asset-liability ratio rose to 116.21 percent, gross margin fell to 1.73 percent, and diluted earnings per share was negative 0.05 yuan.

ST Development announced that its holding subsidiary Zhenjiang Xincheng Real Estate Development has been hit with a property preservation application by Jiangsu Wanyuan Construction Group, which is seeking to freeze 100 million yuan in bank deposits or seal equivalent assets. As of August 11, 2026, the court has frozen a total of approximately 2,543 yuan across three bank accounts of Zhenjiang Xincheng, and sealed 77 properties under its name at Building 2, Shangshufang, No. 8 Pogang Road, Zhenjiang. The company stated that production and operations remain normal, the case is still in the property preservation stage, and it is currently unable to assess the impact on profits. If the matter is not properly resolved, the relevant assets may face the risk of forced disposal.