SEG subsidiary fulfills guarantee, total payments exceed 10m yuan
Shenzhen SEG’s controlling subsidiary, SEG Property, has again fulfilled its guarantee obligations for Huizhou Qunxing Real Estate Co., Ltd. Huizhou Qunxing failed to repay a loan principal of 2,500,000 yuan to Beijing Bank, leading to SEG Property’s bank account being debited on October 21, 2025. This brings SEG Property’s total guarantee payments to 10,551,445.01 yuan, comprising 7,499,951.66 yuan in principal and 3,051,493.35 yuan in interest.
SEG Property holds a 79.02% stake in Shenzhen SEG, while SEG Property holds 88% of Huizhou Qunxing. Huizhou Qunxing, established in 2003 with a registered capital of 23,000,000 yuan, operates in real estate development, commercial operations, and property leasing. As of June 30, 2025 (unaudited), Huizhou Qunxing reported total assets of 41,628.82 million yuan and total liabilities of 59,490.98 million yuan, resulting in negative net assets of 17,862.16 million yuan.
Shenzhen SEG stated that the company will continue to urge Huizhou Qunxing to repay the funds through accelerated property sales, combined rental and sales strategies, and expanded financing channels. The company reserves the right to take legal action to protect its interests and those of its investors. Shenzhen SEG will continue to monitor the situation and provide timely disclosure of any further developments.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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