---
title: "Century: The subsidiary has illegal guarantees, and stock trading may be subject to other risk warnings"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/232417970.md"
description: "Century announced that its wholly-owned subsidiary, Yihui Technology, is facing a lawsuit from the Hangzhou branch of Industrial and Commercial Bank of China due to personal default by Zhang Lizhong, requiring joint repayment of debts totaling 56,758,471.67 yuan. The company will take legal measures to protect its rights and has requested Zhang to promise to bear the losses. If the violation of the guarantee issue is not resolved by April 18, 2025, the stock trading will face risk warnings"
datetime: "2025-03-19T12:57:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/232417970.md)
  - [en](https://longbridge.com/en/news/232417970.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/232417970.md)
---

# Century: The subsidiary has illegal guarantees, and stock trading may be subject to other risk warnings

Century announced that its wholly-owned subsidiary, Yihui Technology Co., Ltd., recently received a court summons and related case materials delivered by the People's Court of Pudong New District, Shanghai. Due to the personal default behavior of Zhang Lizhong, which caused his debts to become due prematurely without timely repayment obligations, the Hangzhou Branch of Industrial and Commercial Bank of China has sued Zhang Lizhong, Yihui Group, and Yihui Technology in court, requesting the defendants to repay the principal of the repurchase price, the repurchase premium, and to pay penalties, attorney fees, etc., totaling 56,758,471.67 yuan. The plaintiffs request that Yihui Group and Yihui Technology bear joint repayment responsibility for Zhang Lizhong's aforementioned debts. The company will actively take legal measures to safeguard the legitimate rights and interests of the company and all shareholders, and requires Zhang Lizhong to commit to bear all losses caused by this matter and to pay a performance bond. If the company cannot resolve the aforementioned suspected illegal guarantee matters by April 18, 2025, the trading of the company's stock will be subject to other risk warnings

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