Sunac Real Estate: Reached a settlement with Harbin Bank over a financial loan contract dispute

MaticHoleFiller · 2026-04-11T02:50:17+00:00

Sunac Real Estate Group announced that a financial loan contract dispute with Harbin Bank has been resolved through settlement. The settlement includes rescheduling the repayment plan, with Sunac bearing joint and several liability for repayment, and facing substantial compensation if default occurs. Sunac also stated it will actively handle other pending lawsuits, and the company expects to incur losses in 2025, although debt restructuring gains have somewhat eased the impact.

MaticHoleFiller

2026-04-11 02:50:17

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On March 25th, Sunac China Holdings Limited released an announcement regarding a major lawsuit, disclosing a settlement in a financial loan contract dispute.

According to the announcement, the plaintiff is Harbin Bank Co., Ltd. Dazhi Branch, and the defendants include Harbin Wanda City Investment Co., Ltd., Sunac China Holdings Limited, and Tianjin Sunac Xihui Cultural Tourism Real Estate Co., Ltd.

The case involves a dispute over a financial loan contract. During the trial, the parties reached a settlement on their own, and the Harbin Intermediate People’s Court of Heilongjiang Province issued Civil Mediation Document No. (2025) Hei 01 Min Chu 682.

The main contents of the settlement agreement include: both parties re-establish a repayment plan for the principal and interest; Sunac China and Sunac Xihui assume joint and several liability for the debt; after the defendants make full and timely payments, the plaintiff waives other litigation claims; if any installment defaults, the plaintiff has the right to demand one-time repayment of the remaining principal and interest; if payments are not made on time, the plaintiff can prioritize claims on Harbin Wanda’s mortgaged property and pledged rental income rights.

Sunac China stated that the company reached the above settlement plan through communication and negotiations with relevant institutions and creditors. For other pending lawsuits, the company will continue to maintain communication, strive to develop and implement solutions, and consider seeking an overall resolution plan.

Previously, Sunac China (01918.HK) issued a profit warning, expecting the company’s attributable loss for 2025 to be between 12 billion and 13 billion yuan.

Sunac China said that the significant reduction in losses is mainly due to gains from overseas debt restructuring recorded this year. Excluding the impact of debt restructuring gains, the loss for this year was primarily caused by a sharp decline in recognized revenue and pressure on gross profit margin due to market influences, as well as further provisions for asset impairments and contingent liabilities.

As of the close on March 25th, Sunac China’s stock price was HKD 1.12 per share.

Reporter: Li Xiaoqing, The Paper

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