RiseSun faces lawsuits, debt pressures; shareholder pledges shares

RiseSun Real Estate Development (SZSE:002146) is facing increasing financial pressures as it navigates multiple lawsuits and significant debt obligations. The company recently disclosed that it and its subsidiaries have received legal complaints, including one case filed by Langfang Bank for unpaid loans totaling CNY 11.069 million, plus interest and penalties. A related mortgage guarantee involving Chicheng Rongtian Real Estate Development is also part of the suit. A second lawsuit from Langfang Bank's Anci District branch concerns a CNY 9.296 million loan default, involving Hebei Zhongkai Construction Engineering and Nanjing Rongsheng Shengjing Real Estate. Additionally, RiseSun faces other unrevealed lawsuits and arbitrations with an aggregate value of CNY 13.33 million, accounting for 8.97% of net assets.