According to the announcement, Yihui Technology, a wholly-owned subsidiary of Century Global, was sued by ICBC due to a contract dispute, involving a litigation of unauthorized guarantee amounting to 57.6625 million yuan.

According to Qichacha, Centaline Medical was established in 2003 and listed on the Shenzhen Stock Exchange Growth Enterprise Market in April 2010. It is a technology enterprise integrating research, production, and service, and is a leading global provider of smart healthcare and smart business overall solutions.

According to the litigation documents, the plaintiff demands Zhang Lizhong to repay a principal of 36 million yuan, interest of 7.58 million yuan, default penalty of 20.82 million yuan, and legal fees of 80,000 yuan, and also requires the shareholders of the listed company Century Global Medical, Yihui Group and Yihui Technology, to bear joint liability. Up to now, due to the aforementioned litigation case, the plaintiff has applied for pre-litigation asset preservation, resulting in the freezing of the special account for raised funds of Yihui Technology.

Apart from the huge compensation, a more severe situation for Sichuang Yihui is that, as of the announcement date, the total amount involved in litigation and arbitration has reached 75.37 million yuan, accounting for 15.22% of Sichuang Yihui's net assets at the end of the third quarter of 2024 (approximately 592 million yuan), far exceeding the 5% red line stipulated by the Shenzhen Stock Exchange. Meanwhile, if Sichuang Yihui fails to resolve the aforementioned suspected irregular guarantee issues within one month, its stock may be subject to ST.

Caught in a lawsuit storm and facing huge claims for repayment, even triggering the risk of being ST, undoubtedly adds to the woes of SincoMed (300078), which is already burdened with heavy debts.