Jingyi Shares' Two Subsidiaries Sue Huahong Group to Recover Payments, Total Claims Reach 156 Million Yuan

Regulation
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Summary · why it matters

Two wholly owned subsidiaries of Jingyi Shares have taken multiple companies and individuals from the Huahong Group to court over contract disputes, with the combined claims totaling approximately 156 million yuan. Subsidiary Jingyi Sales is seeking a ruling that Foshan Huahong and Qingyuan Huahong jointly pay 98.3237 million yuan in goods payments plus 5.4716 million yuan in additional charges, bringing the provisional claim to 104 million yuan. Another subsidiary, Jingyi New Materials, is asking the court to order Qingyuan Huahong to pay 43.5233 million yuan in goods payments plus 8.6688 million yuan in additional charges, with a provisional claim of 52.2078 million yuan. Jingyi Shares stated that the cases have been accepted by the Shunde District People's Court in Foshan but have not yet been heard, and the final judgment and enforcement remain uncertain, making it impossible to accurately assess the impact on company profits at this time. The company previously disclosed that as of the end of 2025, accounts receivable from the Huahong Group stood at about 170 million yuan, making it the second-largest debtor. In the first half of this year, the company expects net profit attributable to shareholders to decline by 59.7 to 67.03 percent year-on-year, mainly due to lower processing fees, cost pressures, and increased credit impairment losses.

Impact on stocks 1

Others▼ · 1 stocks
Guangdong Jingyi Metal Co Ltd
002295
▼ NegativeCapitalrelevance

Subsidiaries sue Huahong Group for 156 million yuan in unpaid goods, with expected profit decline due to credit impairment losses.

Off-coverage companies 2

佛山市华鸿铜管有限公司Private▼ Negative
Capitalrelevance

Foshan Huahong is sued for 104 million yuan in payments, increasing legal and financial burden.

清远市华鸿铜业有限公司Private▼ Negative
Capitalrelevance

Qingyuan Huahong is sued for 52.2 million yuan in payments, adding to financial strain.

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