Hainan Ruize added nearly 200 million yuan in new litigation exposure in the first half, accounting for over 30% of its latest audited net assets, while some bank accounts of the company and its subsidiaries were frozen for 12.6 million yuan due to lawsuits. In the first half of 2026, the company and its subsidiaries filed 84 new lawsuits as plaintiffs, involving 138 million yuan, or 25.81% of net assets; as defendants, they had 18 new unresolved lawsuits, involving 60.09 million yuan, or 11.24% of net assets. The company said the proactive lawsuits aim to speed up collection of accounts receivable, but the large-scale litigation reflects difficulties in downstream payments and a tight cash chain. In addition, the company's revenue has declined for five consecutive years, with continuous losses from 2021 to 2025, and 45.9 million shares held by the actual controller Zhang Yilin will be auctioned by the court on July 23. As of the close on July 8, Hainan Ruize's stock price was 2.77 yuan, down about 49% for the year.
Hainan RuiZe New Building Material Co LtdCompany added nearly 200 million yuan in new litigation exposure, bank accounts frozen, revenue declining for five years, continuous losses, and actual controller's shares to be auctioned.