Yida China: Failed to repay 498 million yuan of loan principal and corresponding interest, with a cross-default amount of approximately 4.223 billion yuan

Rui Si Network News: On March 3rd, Yida China Holdings Limited (referred to as “Yida China,” 03639.HK) issued an announcement regarding insider information related to a disclosure of breach of loan agreement under Listing Rule 13.19.

In May 2017, Bohai International Trust Co., Ltd. (Bohai Trust) (as the creditor) entered into a trust fund loan agreement with the company’s indirectly wholly owned subsidiary, Dalian Gaoji Real Estate Development Co., Ltd. (Gaiji Company). The agreement stipulated a total loan amount of RMB 1.6 billion. After several disbursements, repayments, and contract amendments, the remaining principal is RMB 498 million, with a maturity date of May 2, 2025, and an interest rate of 4%. Collateral measures include: (i) Gaiji Company and Dalian Lanhui Real Estate Development Co., Ltd., a subsidiary of the company, providing mortgage guarantees with approximately 27,000 square meters of land and about 2,100 square meters of property; (ii) Yida Real Estate Co., Ltd. pledging its 100% equity interest in Gaiji Company as collateral; (iii) the company’s subsidiaries Yida Development Co., Ltd. and Dalian Software Park Rongtai Development Co., Ltd. providing joint liability guarantees.

As of the date of this announcement, the RMB 498 million principal and the corresponding interest have not been repaid. After the loan default, the company has maintained friendly communication with the creditor and actively promoted extension and debt resolution plans. Both parties are still engaged in ongoing friendly negotiations.

As disclosed in the company’s 2025 interim report, as of June 30, 2025, the Group failed to repay the principal, interest, and consent fee totaling RMB 6.445 billion on the scheduled repayment date (loan default). Several default events and overdue loans resulted in a total of RMB 5.107 billion in loans (excluding overdue loans) as of June 30, 2025 (triggering default amounts), which could require immediate repayment if demanded by the lender.

As of February 28, 2026, the company estimates that the cross-default amount related to the loans not being repaid upon maturity is approximately RMB 4.223 billion. This cross-default amount is included within the total overdue and trigger default amounts mentioned above. The current loan default has not triggered any additional cross-defaults.