Yida China (03639): Currently seeking legal advice and actively negotiating settlement arrangements for loan repayment of outstanding principal amounts and accrued interest

According to the Zhitong Finance App, Yida China (03639) issued an announcement that the company's subsidiaries Rongtai Company and Zhengzhou Yida were unable to repay the principal amount and corresponding interest of the Northern Trust loan. Recently, the company's subsidiary received a “Civil Complaint” from Northern Trust (plaintiff) against Rongtai (defendant 1, borrower, mortgagee), Zhengzhou Yida (defendant 2, co-payer, mortgagor), Dalian Software Park Rongyuan Development Co., Ltd. (defendant 3, mortgagor), and Dalian Jiadao Technology Development Co., Ltd. (defendant 4, mortgagee) served by the Tianjin Second Intermediate People's Court. The plaintiff requested an order: (i) Defendant 1 and Defendant 2 to settle the principal amount of the loan of approximately RMB 482 million and corresponding interest, penalties, and liquidated damages up to September 21, 2025; (ii) the plaintiff was entitled to preferential payment of collateral provided by each mortgagee within the agreed collateral amount within the agreed collateral amount; and (iii) Defendant 1 and Defendant 2 were responsible for the expenses incurred by the plaintiff in fulfilling their claims.

The company is currently seeking legal advice and actively negotiating settlement arrangements for the outstanding principal amount and accrued interest on the loan repayment. The company will continue to monitor the development of the above legal procedures and will publish separate announcements in due course to update the progress of the situation.