ST Sanmu and its wholly owned subsidiary Sanmu Jianfa have been sued by CITIC Bank Fuzhou Branch over a financial loan contract dispute, with the total amount involved reaching approximately 77.8 million yuan. The case involves two loans, with principal amounts of 7 million yuan and 70 million yuan respectively, both declared due early after the company failed to pay interest on time. The company also disclosed other minor lawsuits totaling about 82.21 million yuan, accounting for 68.14 percent of its latest audited net assets. The company expects a net loss attributable to shareholders of between 770 million yuan and 930 million yuan for the first half of 2026, a year-on-year plunge of more than six times, mainly due to credit impairment losses and provisions for estimated liabilities caused by a deteriorating trade environment. Over the past three years, the company's revenue has fallen from 13.91 billion yuan to 5.91 billion yuan, while net losses attributable to shareholders have widened each year, with the return on equity dropping to negative 157.58 percent in 2025.
Fujian Sanmu Group Co LtdCompany faces lawsuit over 77.8 million yuan loan dispute and expects first-half net loss up to 930 million yuan, with deteriorating financials.