pennslammer3handleassembly| Yabang Co., Ltd. guaranteed the joint-stock company and was sued for overdue periods of time, involving more than 80 million yuan in principal and interest

Wei Guanhong, editor of every reporter Cheng Ya

The evening of May 22ndPennslammer3handleassembly, Yabang shares (SH603188, share price 2Pennslammer3handleassembly.85 yuan, with a market capitalization of 1.625 billion yuan), the company previously provided a guarantee for the financial leasing business of Jiangsu Renxin Environmental Protection Technology Co., Ltd. (hereinafter referred to as "Renxin Environmental Protection") and Jiangsu Hanruijin Port Financial Leasing Co., Ltd. (hereinafter referred to as "Golden Port Leasing"), with a guarantee principal of 77 million yuan.

After that, because Renxin Environmental Protection failed to pay the principal and interest of the lease on time, Jingang Leasing filed a lawsuit with the people's Court of Zhenjiang Economic Development Zone. As one of the guarantors, Yabang shares are required to perform joint and several guarantee liability in accordance with the guarantee contract, involving a total of 81.3532 million yuan in principal and interest.

Provide guarantees for companies with a 15% stake

In December 2021, Yabang held a board of directors and examined and passed the motion on providing financial lease guarantee for Jiangsu Renxin Environmental Protection Technology Co., Ltd.

In order to meet the needs of daily production and operation and broaden the financing channels, Renxin Environmental Protection signed a "financial leasing contract" with Jingang Leasing. Renxin Environmental Protection carried out financial leasing business to Jingang Leasing by way of after-sale and leasing of fixed assets such as its own machinery and equipment, with a total principal of 77 million yuan.

Renxin Environmental Protection is an environmental protection enterprise for waste acid disposal, which carries out waste acid treatment for Yabang shares and other enterprises in the park. Yabang shares hold 15% of the shares, natural person Cai Jiasheng holds 43.35%, Ni Xiubing holds 26.35%, and Gao Zuan holds 15.30%. Yabang Co., Ltd., Cai Jiasheng and Jiangsu Renxin Chemical Co., Ltd. (hereinafter referred to as "Renxin Chemical") provide guarantee for this financial leasing business.

At the same time, Renxin Environmental Protection and Renxin Environmental Protection natural person shareholders Cai Jiasheng, Ni Xiubing and Gao Zuan provided counter-guarantee for Yabang shares, and the three natural person shareholders have pledged all their equity holdings in Renxin Environmental Protection to Yabang shares as pledge.

On May 16, 2023, Yabang shares received a "notice letter" from Jingang Lease. through consultation between Renxin Environmental Protection and Jingang Leasing, it was decided to adjust the original repayment plan. the adjusted lease principal, lease term and lease interest rate remain unchanged, the lease interest is adjusted from 8.1627 million yuan to 9.0373 million yuan, and the total interest is increased by 874600 yuan.

Yabang shares agree and confirm the above rent repayment adjustment plan and bear the guarantee liability within the scope of the original guarantee contract.

The accused is jointly and severally liable.

On April 13, Yabang shares received the "Rent compensation notice" from Jingang Leasing because Renxin Environmental Protection failed to pay the ninth phase of the rent due on March 15, 2024 in the Financial Leasing contract, of which the unpaid lease principal was 5 million yuan and the unpaid lease interest was 1.1678 million yuan. The total unpaid lease amount is 6.1678 million yuan, requiring Yabang shares to compensate the above principal and interest as the guarantor of the financial leasing business.

On May 22, Yabang shares received a "subpoena" from the people's Court of Zhenjiang Economic Development Zone and a "Civil complaint" from Jingang Leasing.

Because Renxin Environmental Protection failed to pay the financial lease rent and interest on time, Jingang Leasing filed a lawsuit with the court, requesting the court to order Renxin Environmental Protection to immediately pay the lease principal and interest totaling 81.3532 million yuan, and to pay overdue interest to the plaintiff at the rate of 5/10000 per day. At the same time, request the court to order Yabang, Renxin Chemical and Cai Jiasheng to bear joint and several guarantee liability respectively in accordance with the financial lease guarantee contract. Request to order the defendant to bear the litigation costs and preservation fees of the case.

As a defendant, Yabang shares were required to attend a hearing in the designated court on June 12 as a result of the above financial lease contract dispute.

Up to now, the total amount of external guarantees of Yabang shares and holding subsidiaries is 240 million yuan, accounting for 29.11% of the company's audited net assets at the end of 2023. Among them, the total amount of external guarantee of the company's holding subsidiary is 120 million yuan. The listed company has no other external guarantee.

Yabang shares said that the company will entrust professional lawyers to actively respond to relevant lawsuits, actively safeguard their legitimate rights and interests through legal procedures, and go all out to reduce losses. Up to now, the case has not yet been formally heard, and the impact on the company's current or post-term profits is uncertain.

Cover photo: photo by Liu Guomei, Daily Economic News