ST Sanmu disclosed progress in two major lawsuits. It reached mediation with China CITIC Bank Fuzhou Branch over financial loan disputes totaling 77 million yuan. Meanwhile, the Fuzhou Intermediate People's Court issued a final ruling to revoke the first-instance judgment and dismiss the lawsuit filed by Fuzhou Rongtou Supply Chain Management Company over a sales contract dispute of approximately 681 million yuan. Under the mediation, the listed company itself must repay the full principal of a 7 million yuan loan before February 14, 2027. Its subsidiary, Sanmu Jianfa, must repay the principal of a 70 million yuan loan in three installments before February 25, 2027, with the listed company bearing maximum guarantee liability for that debt. The Fuzhou Intermediate People's Court's final ruling revokes four first-instance civil judgments and dismisses Rongtou's lawsuit. The case acceptance fees for both the first and second instances will be refunded, and the ruling is final. The company cautioned that as of the disclosure date, the total amount of smaller lawsuits and arbitrations that have not yet met the disclosure threshold is approximately 83.7691 million yuan, accounting for as much as 69.43 percent of the most recent audited net assets, meaning outstanding potential risks remain prominent.
Fujian Sanmu Group Co LtdFinal ruling dismisses 681 million yuan lawsuit, reducing legal liabilities.
China Citic Bank Corp Ltd Class ALawsuit dismissed, losing claim of 681 million yuan.
