Sunac Receives Court Enforcement Ruling; 1 Billion Yuan in Bank Deposits Frozen

NightAirdropper

2026-03-21 23:11:03

Abstract generation in progress

Viewpoint Network News: On March 18, Sunac China Holdings Limited issued an announcement regarding a major lawsuit.

According to the announcement, the plaintiff is Everbright Xinglong Trust Co., Ltd., and the defendants include Henan Chongzhao Enterprise Consulting Management Co., Ltd., Sunac China, Henan Zhongzhixiang Real Estate Co., Ltd., and Henan Youyao Real Estate Co., Ltd.

The case concerns a dispute over the recognition of bad financial debts. The first-instance judgment was made in February 2024.

The court ordered the freezing and transfer of bank deposits totaling 1,031,002,284.70 yuan from Henan Zhongzhixiang Real Estate Co., Ltd.; Sunac China is jointly liable for the debt; and any shortfall will be covered by seizing, freezing, auctioning, or selling the assets of the enforcement target.

Sunac China stated that the lawsuit will have a certain adverse impact on the company’s operations and debt repayment ability. The company is actively communicating and negotiating with relevant institutions and creditors, striving to develop and implement solutions, and considering seeking an overall resolution to properly address the issues.

Disclaimer: The content and data of this article are compiled by Viewpoint based on publicly available information and do not constitute investment advice. Please verify before use.

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