Baili Technology is involved in a 249 million yuan financial loan contract dispute; the court has filed the case but a hearing has not yet been scheduled.

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Hunan Baili Engineering Technology Co., Ltd. (Stock code: 603959, Stock abbreviation: Baili Technology (Rights Protection)) recently announced that the company received a notice of lawsuit served by the Yueyang Intermediate People’s Court. The lawsuit was filed due to a dispute over a financial loan contract with the Yueyang Branch of Bank of Communications Co., Ltd., involving an amount of 248.5271 million yuan. The case has been filed and accepted by the court but has not yet gone to trial.

The announcement shows that in this lawsuit, Baili Technology, as the defendant, is sued by the Yueyang Branch of Bank of Communications Co., Ltd. (the plaintiff), along with Wang Hairong, Wang Lixia, Wang Liyan, Lei Limeng, Wuhan Refining Engineering Design Co., Ltd., and Changzhou Baili Lithium Battery Smart Factory Co., Ltd. The plaintiff requests the court to order Baili Technology to immediately repay the principal loan of 247.74 million yuan plus corresponding interest and late fees (interest compounded up to February 7, 2026, totaling 727,100 yuan, to be calculated until actual repayment), and to require the other six defendants to bear joint and several liability within the scope of the principal, interest, and reasonable costs for realizing the debt.

It is understood that the plaintiff and Baili Technology signed a “Working Capital Loan Contract” and a “Bank of Communications Loan Limit Usage Application” between May and August 2025, with a total of eight loans issued, totaling 247.74 million yuan. The loan interest rate is based on the one-year LPR plus 0.4% (i.e., 3.4%). To secure these loans, the plaintiff separately signed “Guarantee Contracts” with Wang Hairong, Wang Lixia, Wang Liyan, Wuhan Refining Engineering Design Co., Ltd., and Changzhou Baili Lithium Battery Smart Factory Co., Ltd., agreeing to provide maximum guarantee for all main contracts signed by Baili Technology from July 13, 2021, to December 31, 2026, with a maximum principal guarantee amount of 400 million yuan; and with Lei Limeng, a “Guarantee Contract” was signed to provide maximum guarantee for all main contracts signed by Baili Technology from May 13, 2025, to May 13, 2028, with a maximum principal guarantee amount of 250 million yuan.

Regarding the impact of this lawsuit on the company, Baili Technology stated that as of now, the case has not yet gone to a formal trial, and the final impact will depend on the court’s judgment or enforcement results. The company is actively communicating with the bank to resolve the overdue loan issues, has taken measures to collect evidence, and organized legal personnel to prepare for the defense to safeguard the company’s legal rights. The company will continue to monitor the progress of this matter and will disclose information in a timely manner according to laws and regulations.

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Editor: Xiao Lang Kuai Bao