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Sino-Coastal Home Controlling Shareholder Defaults on 32M Yuan in Loans; 153M Shares Placed Under Receivership

2026-07-12 13:01:58

According to the company disclosure, Coastal International Holdings Limited, Sino-Coastal Home's controlling shareholder, defaulted on two loans totaling 32 million yuan on July 10. The loans comprised a 7 million yuan term loan and a 25 million maximum term financing facility. As security, the shareholder had pledged 153 million shares, representing 36.93% of the company's issued share capital, which have now been placed under receivership. The company is assessing the legal, financial, and operational impacts of the default and will monitor further developments.

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Lucas Bennett07-10 08:21

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AsLongAsYouAreAlive,ThereIs

· 58m ago

Buy the dip and enter 😎

View OriginalReply0