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Greenland Faces 2.07 Billion Yuan in New Overdue Debts, New Lawsuits

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Greenland (SHA:600606) and its subsidiaries incurred 2.07 billion yuan in new overdue debts, bringing cumulative overdue debts to 30.9 billion yuan, with 888 million yuan of the new debt tied to litigation, according to a bourse filing on Monday.

During the same period, the company faced 1,275 new lawsuits involving 3.9 billion yuan in disputes, while simultaneously settling 1,213 cases amounting to 1.51 billion yuan.

The company was a defendant in 1,198 cases carrying 3.48 billion yuan in accounting disputes, and a plaintiff in 77 cases involving 424 million yuan.

The company attributes the situation to the ongoing adjustment cycle in the real estate and infrastructure sectors and has established special work teams to resolve lawsuits and reduce debt.

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