Century Sunshine Faces Land Auction Amid Legal Dispute

The latest announcement is out from Century Sunshine Group Holdings Limited ( (HK:0509) ).

Century Sunshine Group Holdings Limited is confronting enforcement actions relating to bank loan litigations involving its subsidiary, Shandong Hongri, in China. The Luozhuang District People’s Court has ruled to auction the land use rights of Shandong Hongri to settle debts, although no specific auction details have been established. Complications arose due to local government delays in executing a relocation plan, prompting Shandong Hongri to seek administrative review and consider legal objections to prevent the auction. The company assures stakeholders that these issues do not significantly affect its other operations, while ongoing legal actions aim to protect shareholder and creditor interests.

More about Century Sunshine Group Holdings Limited

Century Sunshine Group Holdings Limited operates within the chemical industry, with a focus on producing and managing chemical products and services. The company has various subsidiaries, including Shandong Hongri Chemical Joint Stock Company Limited, which is involved in a relocation plan initiated by local government authorities.

Technical Sentiment Consensus Rating: Strong Buy

Current Market Cap: €3.26M

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