May face litigation Yatai Group and its subsidiaries overdue debt principal and interest totaling 193 million yuan

On July 20, Yatai Group (600881. SH) announced that as of the disclosure date of this announcement, the principal and interest of overdue debts of the company and its subsidiaries totaled 193 million yuan, accounting for 31.24% of the company's latest audited net assets.

As some debts are overdue, the company and its subsidiaries may bear additional expenses such as liquidated damages, late fees, penalties and overdue interests. At the same time, as the Company provides guarantees for the financing and credit business of some of its subsidiaries, if the overdue problem is not properly solved, the Company and its subsidiaries may face risks such as litigation, arbitration, being required to perform joint and several guarantee liabilities, and freezing of bank accounts and assets.