RiseSun Real Estate Development's (SHE:002146) unit, Hebei Moze Real Estate Development, faces a lawsuit as it was sued over unpaid debt worth 16.4 million yuan, according to a Shenzhen Stock Exchange disclosure on Wednesday.
Ping An Bank (SHE:000001) sued the real estate company at Qiaoxi District People's Court of Shijiazhuang City, Hebei Province, China.
The amount includes 15.7 million yuan in principal, which was loaned on Aug. 30, 2023, and interest of 957,600 yuan.
As of the date of the disclosure, RiseSun incurred an overdue unpaid debt of 390 million yuan.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.