Tongde Chemical and its subsidiaries involved in a financial loan contract dispute of 94.81 million yuan; the court has accepted the case but the trial has not yet started.

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Shanxi Tongde Chemical (Rights Protection) Co., Ltd. (Stock Code: 002360, Stock Abbreviation: Tongde Chemical) announced on March 17 that the company and its wholly owned subsidiaries, Tongde Kechuang Materials Co., Ltd. and Shanxi Tongde Blasting Engineering Co., Ltd., recently received a summons from the People’s Court of Yingze District, Taiyuan City. The lawsuit was filed due to a dispute over a financial loan contract with Shanxi Bank Co., Ltd., Taiyuan Branch, involving a case amount of 94.8178 million yuan. The court session is scheduled for April 13, 2026, but has not yet been held.

The announcement states that in this lawsuit, Shanxi Bank Co., Ltd., Taiyuan Branch, is the plaintiff, with Tongde Chemical as the first defendant. The second to fifth defendants are Tongde Blasting, Tongde Kechuang, Zhang Yunsheng, and Zhang Hong. The plaintiff requests the court to declare the loan under the “Working Capital Loan Contract” due early, requiring Tongde Chemical to repay the principal of 94 million yuan, along with interest of 792,000 yuan as of February 25, 2026, compound interest of 32,000 yuan, overdue penalty interest of 2,700 yuan, and legal fees of 20,000 yuan. The other four defendants are also asked to bear joint guarantee liability for the debt.

According to the plaintiff, on August 11, 2025, they signed a “Comprehensive Credit Line Contract” with Tongde Chemical, providing a credit limit of 94 million yuan. The next day, they signed a “Working Capital Loan Contract” and disbursed the loan, with a term of 24 months, an annual interest rate of 4.9%, and the purpose of repaying old debts. The plaintiff pointed out that Tongde Chemical has owed 1 million yuan in principal and two installments of interest since February 2026, and has experienced continuous losses, including a loss of 1.21 billion yuan in 2024 and a loss of 160 million yuan in the first three quarters of 2025. Its current liquidity ratio is far below 0.5, and it is involved in eight leasing disputes with a total claim amount of 352 million yuan, as well as multiple overdue debts. Therefore, the loan was declared due early according to the contract, and a lawsuit was filed.

Tongde Chemical stated that the case has not yet gone to court, and the final judgment is uncertain. The impact on the company’s current or future profits cannot be determined at this time. The company will actively respond and strictly fulfill its information disclosure obligations in accordance with relevant regulations. As of the date of this announcement, the company has no other litigation or arbitration matters that need to be disclosed but have not yet been disclosed.

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Editor: Xiao Lang Kuai Bao