Yangtze River Investment Involved in 48.78 Million Yuan Litigation; Plaintiff Changes Claims and Demands Assumption of Supplementary Liquidation Liability

Sina Finance App Login Search [Disclosure of Information] for more evaluation levels

Changfa Group Changjiang Investment Industrial Co., Ltd. (Stock Code: 600119, Stock Abbreviation: Changjiang Investment) recently released a litigation progress announcement, revealing new developments in a bankruptcy-related dispute case involving the company as a co-defendant. The plaintiff, Shanghai Changjiang United Metal Trading Center Co., Ltd. (hereinafter referred to as “Jin Jiao Center”), has amended its claim, requesting Changjiang Investment to return 48.78 million yuan within the profit range based on a 40% shareholding ratio, and to bear additional repayment responsibilities. The case is currently in the first-instance court hearing stage, and its impact on the company’s profits and losses depends on the court’s judgment.

The announcement shows that the lawsuit dates back to March 2025 at the earliest. Jin Jiao Center initially filed a lawsuit against Changjiang Investment as the sole defendant, but withdrew the lawsuit in June 2025. Subsequently, Jin Jiao Center refiled the lawsuit against Changjiang Investment and four other entities as joint defendants, with case number (2025) Hu 7101 Min Chu 1382, and held a court hearing on December 15, 2025. On March 17, 2026, Changjiang Investment received a court-transmitted “Application for Change of Litigation Request,” clarifying the claims and responsibilities of each defendant.

According to the amended claims, Jin Jiao Center requests the four corporate defendants to return corresponding amounts based on their shareholding ratios, as follows:

The total amount to be returned by these four defendants is 121,950,061.18 yuan. Additionally, the plaintiff requests the court to hold the fifth defendant, Jiang Liangde, jointly liable for the repayment to Shanghai Ranjing Precious Metals Co., Ltd., and asks each defendant to bear supplementary repayment responsibilities within their profit and performance reward scope if other defendants fail to fulfill their obligations. They also request coverage of the case acceptance fee, guarantee fee, and preservation fee.

Changjiang Investment stated that the impact of this lawsuit on the company’s current or future profits remains uncertain and cannot be determined at this time. The company will handle the case according to relevant accounting standards and continue to fulfill its information disclosure obligations.

The announcement also discloses that the total litigation and arbitration amounts involving the company and its subsidiaries in the past 12 months, excluding this case, amount to 6.2063 million yuan, accounting for 4.72% of the company’s latest audited net assets attributable to shareholders. Among these, 4.5152 million yuan were as plaintiff, and 1.6911 million yuan as defendant.

Click to view the original announcement >>

Disclaimer: The market carries risks; investment should be cautious. This article is automatically published by an AI model based on third-party databases and does not represent Sina Finance’s views. All information in this article is for reference only and does not constitute personal investment advice. Please refer to the actual announcement for any discrepancies. If you have questions, contact biz@staff.sina.com.cn.