Zhuoyi Information recently announced a supplementary confirmation that in February this year, the company provided a 10 million yuan loan to Yixing Lutong Real Estate Company at an annual interest rate of 3 percent. The loan was fully recovered in June, but the matter was only reviewed by the board of directors several months after the loan was made. The company also provided loans of 8.5 million yuan and 5 million yuan to Lutong Real Estate in October and December 2024, respectively, both at an interest rate of 4 percent, citing deepening customer cooperation as the reason. Lutong Real Estate is a wholly-owned subsidiary of Yixing Transportation and Energy Group, with the actual controller being the Yixing State-owned Assets Supervision and Administration Office. However, Zhuoyi Information's cooperation with it is limited in scale, with accounts receivable balance of only 3.451 million yuan as of the end of last year. It is worth noting that Lutong Real Estate was once a debtor of Zhuoyi Construction, a wholly-owned subsidiary of Zhuoyi Information's actual controller Xie Qian. The two parties previously went to court over a dispute concerning an enterprise contracting and operation contract, and the court once froze 35 million yuan in bank deposits of Lutong Real Estate and others.
Jiangsu Eazytec Co LtdCompany provided loans to related party without timely board approval, raising governance concerns.