Meili Cloud faces shareholder debt risk, shares frozen

MCC Meili Cloud Computing Industry Investment Co., Ltd. (SZSE:000815) issued a risk warning, indicating that its shareholders, China Metallurgical Paper Group Co., Ltd. and Beijing Xingcheng Wang Industrial Co., Ltd., are facing potential debt defaults. Metallurgical Paper Group is unlikely to repay an upcoming loan. Beijing Xingcheng Wang, as a guarantor, is also expected to default on its guarantee obligations. Both shareholders' holdings in MCC Meili Cloud, representing 20.86% (145,000,000 shares) and 11.38% (79,131,048 shares) respectively, are fully frozen and 50% pledged due to the loan agreements. The company cautions that potential court-ordered disposals of these shares may occur if the debts are not repaid. MCC Meili Cloud stresses that its operations remain normal and advises investors to exercise caution.