2021年10月26日

For the first time, Essence Trust filed a lawsuit against a related party of its shareholder with the amount of 2.91 billion yuan

Essence Trust (600816.SH) recently disclosed four new cases, and the defendants are all affiliated parties of shareholders of Essence Trust, with a total amount of 2.91 billion yuan.


One of the defendants is Shanghai Guxin Investment Co., Ltd. (” Shanghai Guxin “). On May 5, 2016, Essence Trust signed the Maximum Loan Contract with Shanghai Guxin and extended a loan of 200 million yuan to it, which has not been repaid up to now. Essence Trust is suing Shanghai Guxin for immediate payment of the loan principal, interest, penalty interest and overdue interest, totaling about 290 million yuan.


The other three defendants are Shanghai Huitong Intelligent Technology Co., Ltd. (hereinafter referred to as “Shanghai Huitong”). The transaction structure is more complex, involving many outsiders, and the business model includes transfer of receivables, transfer of beneficial right of trust, loan, etc. The total amount of the three cases involved is RMB 2.618 billion.

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