Meichen Ecology subsidiary settles litigation with Jiangsu Bank

Shandong Meichen Ecology & Environment (SZSE:300237) announced that its wholly-owned subsidiary, Hangzhou Saishi Landscape Group, has reached a settlement agreement with Jiangsu Bank Hangzhou Branch regarding a financial loan contract dispute. According to the settlement, Saishi Landscape will repay CNY 10 million in principal by July 8, 2025, and the remaining CNY 20 million principal, along with CNY 112,556.26 in interest, penalties, and compound interest, by July 31, 2025. Saishi Landscape will also pay CNY 46,600 in legal fees to Jiangsu Bank by the same date. The settlement includes provisions for priority repayment rights to Jiangsu Bank from the proceeds of Saishi Landscape's mortgaged assets and assigned accounts receivable in the event of default. Meichen Ecology and another subsidiary are jointly liable for Saishi Landscape's debt. The company also disclosed six additional litigation and arbitration cases involving approximately CNY 993.69 million.