Summary by Moomoo AI
HENGDA PROPERTY GROUP CO., LTD. (“HANG DAI PROPERTIES”) ANNOUNCED ON 25 JANUARY 2024 THAT ITS WHOLLY OWNED SUBSIDIARIES HAD FILED MULTIPLE LAWSUITS WITH THE INTERMEDIATE PEOPLE'S COURT OF GUANGZHOU CITY, GUANGDONG PROVINCE, CHINA TO RECOVER A TOTAL OF RMB 770 BILLION AND RELATED INTEREST. These lawsuits involve a number of companies, such as Hang Da Real Estate and Hang Dai China, enforced by banks. Evergrande Properties said it had received a notice of formal acceptance of the bill by the court and would consider further action against shareholders of the delisted company. The Board of Directors and its legal advisors consider that these actions will not materially adversely affect the day-to-day operations of the Company.
