Pak Tak International ordered to repay 279m yuan in loan dispute

Pak Tak International Limited announced its appeal regarding defaulted loan agreements was dismissed by the Guangdong Higher People's Court. The court upheld the Civil Ruling, ordering Shenzhen Jinsheng, an indirect wholly-owned subsidiary, to repay 279,000,000 yuan in loan principal to Hua Xia Bank Co., Limited Shenzhen Branch.

In addition to the principal, Shenzhen Jinsheng is liable for approximately 7,881,300 yuan in loan interests, along with corresponding default and compound interests. Pak Tak International and certain subsidiaries are held jointly and severally liable for these debts. Furthermore, court costs totaling approximately 1,458,389.54 yuan, including case acceptance and preservation application fees, must be paid. This Civil Judgment is final and conclusive.

The group is exploring legal options and engaging in discussions with the bank to reach an amicable settlement. Shareholders and potential investors are advised to exercise caution when dealing in the company's shares.