Excellence Commercial Property subsidiary faces RMB183m loan liability

Excellence Commercial Property & Facilities Management Group's subsidiary Beijing Global faces joint and several liability for a RMB183.4m loan principal plus interest following a court ruling.

The pledged property has a liquidation value of RMB204.4m as of December 31, 2024, with the company having provided RMB72.4m for expected credit loss.

Excellence Commercial Property says the judgment will not materially affect its finances as Beijing Global operates independently and liability is limited to its equity investment.