Huayang New Materials Hit with Two Lawsuits After Selling Subsidiary for 1 Yuan, Accused of Evading Debt

Regulation
โดย 读创财经·CN·Read original
Summary · why it matters

Huayang New Materials has received two lawsuits in August after transferring 100% equity in its subsidiary, Bio New Materials, for 1 yuan, and is accused of excessive control over asset disposal and evading debt. On August 12, Yangzhou Huitong Technology filed a lawsuit against Bio New Materials and Huayang New Materials over a construction contract dispute, claiming unpaid project payments of 58.389 million yuan and overdue interest of 5.4667 million yuan, and demanding joint liability from the two companies. In early August, Shanxi Yunzhuo Construction Group sued Huayang New Materials, Taihua Group, and Bio New Materials over a creditor's right of revocation dispute, claiming unpaid project payments of 15.1964 million yuan, and requesting that the equity transfer agreement be revoked and the equity be returned and registered under Huayang New Materials. The combined principal and provisional interest in the two cases total nearly 80 million yuan, and both are currently in the first-instance stage and have not yet opened. Huayang New Materials expects attributable net profit of 2 million to 3 million yuan in the first half of 2026, a year-on-year decrease of 79.13 million to 80.13 million yuan, with non-GAAP net profit of negative 32 million to negative 23 million yuan.

Impact on stocks 1

Others▼ · 1 stocks
Shanxi Huayang New Material Co Ltd
600281
▼ NegativeRegulationrelevance

Facing two lawsuits alleging debt evasion and unpaid project payments totaling nearly 80 million yuan, with potential liability and equity transfer revocation.

Off-coverage companies 3

山西华阳生物降解新材料有限责任公司Private▼ Negative
Regulationrelevance

Subject of lawsuits over unpaid project payments and equity transfer revocation, facing joint liability claims.

扬州惠通科技股份有限公司Private▼ Negative
Regulationrelevance

Filed lawsuit against Bio New Materials and Huayang New Materials for unpaid project payments, seeking joint liability.

太原化学工业集团有限公司Private± Mixed
relevance

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