Baili Technology Involved in 49.9 Million Yuan Financial Loan Contract Dispute; Court Has Accepted Case But Trial Not Yet Scheduled

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Hunan Baili Engineering Technology Co., Ltd. (Stock Code: 603959, Stock Abbreviation: Baili Technology (Rights Protection)) announced on March 13 that the company recently received a notice of lawsuit served by the Yueyang Yueyanglou District People’s Court. The lawsuit was filed due to a financial loan contract dispute with China Construction Bank Corporation Yueyang Branch (hereinafter referred to as “CCB Yueyang Branch”), involving a total amount of 49.9 million yuan. Currently, the case has been accepted by the court but has not yet gone to trial.

The announcement shows that CCB Yueyang Branch, as the plaintiff, requests the court to order Baili Technology to increase the acceptance guarantee deposit by 29.9 million yuan and to confirm its priority right to recover 20 million yuan of guarantee deposit from Baili Technology. It also demands that Baili Technology bear the litigation and preservation costs.

Regarding the reason for the lawsuit, the announcement discloses that on September 10 and September 17, 2025, Baili Technology and CCB Yueyang Branch respectively signed the “Bank Acceptance Agreement” and the “Guarantee Deposit Pledge Contract.” Subsequently, the bank delivered three bank acceptance bills to Baili Technology, with amounts of 2.5 million yuan, 22.5 million yuan, and 24.9 million yuan, with due dates of March 11, 2026, and March 18, 2026. On January 20, 2026, Baili Technology sent a letter to CCB Yueyang Branch stating that it would stop paying all interest on its debts. CCB Yueyang Branch believes that Baili Technology has clearly indicated its inability to fulfill contractual obligations, and therefore filed the lawsuit based on relevant contracts and legal provisions.

Regarding the impact of this lawsuit on the company, Baili Technology stated that as of now, the case has not yet gone to trial, and the final impact will depend on subsequent court judgments or enforcement results. The company also revealed that two bank acceptance bills due on March 11, 2026 (amounts of 2.5 million yuan and 22.5 million yuan) have been repaid on time; the remaining bill of 24.9 million yuan will mature on March 18, 2026. The company is actively communicating with the bank to strive for timely repayment.

Baili Technology said it has taken various measures to collect evidence, organized legal personnel to prepare for the defense, and will actively safeguard the company’s legal rights and interests. The company will also fulfill its information disclosure obligations in accordance with laws and regulations.

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Editor: Xiao Lang Kuai Bao