RiseSun shareholders approve debt measures amid ongoing litigation

RiseSun Real Estate Development (SZSE:002146) announced the results of its third extraordinary shareholders meeting of 2025, during which shareholders approved resolutions regarding debt assumption and collateralization. A legal opinion from Tian Yuan Law Firm confirmed the legality and validity of the meeting's procedures and outcomes. Simultaneously, the company disclosed ongoing litigation involving a CNY29.33 million claim by the Industrial and Commercial Bank of China Suzhou Industrial Park branch due to an alleged breach of a property loan agreement. RiseSun is named as a guarantor in the case. While the company states the litigation's impact on profits remains uncertain, shareholders approved measures concerning debt. This highlights the financial pressures facing RiseSun, underscored by both legal challenges and strategic maneuvers approved by its shareholders. Approximately 37.14% of shareholders voted for both measures.