Previously, on December 3, 2025, Yangzhou Kechuang Fund filed a lawsuit against * ST Yunwang subsidiary Zhongke Gaoyou, * ST Yunwang and Chen Ji, the actual controller, on the grounds of "disputes over convertible creditor's rights investment agreement and repayment agreement". On May 19
, 2026, * ST Cloud Network said that it had recently received the first instance Civil Judgment served by the court.
According to the relevant judgment, the defendant Zhongke Gaoyou shall pay the plaintiff Yangzhou Kechuang Fund the principal of arrears of 47 million yuan , interest and penalty interest within 10 days from the effective date of the judgment, and pay the lawyer fee of 10,000 yuan. At the same time, the defendants Chen Ji and * ST Yunwang are jointly and severally liable for the above payment obligations of Zhongke Gaoyou.
Equity penetration shows that Yangzhou Kechuang Fund is the fifth largest shareholder of Gaoyou, a state-owned enterprise in Yangzhou. Shareholding 7. Zhongke Gaoyou is the previous entry of * ST Yunwang data show that * ST Yunwang, formerly a high-end catering enterprise in Hunan and Hubei, continued to decline after the impact of high-end catering policy in 2013." Since then, * ST Cloud Network has started a continuous cross-border self-help road , successively involved in environmental protection, big data, industrial robots and other fields, but has not been able to reverse the decline.
5 billion yuan in the construction of 8GW monocrystalline N-type TOPCon high-efficiency battery project, which will be implemented in two phases with a capacity of 4GW in each phase.
But for the * ST cloud network that has just crossed the border, the company's funds are already stretched. In
this context, in July 2023, Yangzhou Kechuang Fund signed the Agreement on Investment in Convertible Creditor's Rights with * ST Yunwang subsidiary Zhongke Gaoyou, * ST Yunwang and Chen Ji, the actual controller, to provide 50 million yuan of funds to Zhongke Gaoyou for a period of 18 months. If the right of debt-to-equity swap is not exercised, the principal and interest shall be repaid in one lump sum. In January
2025, the parties signed the Supplementary Agreement to adjust the maturity date of the creditor's rights to April 30 , 2025.
However, due to the failure of Zhongke Gaoyou to repay the loan on schedule, the parties re-signed the Repayment Agreement and agreed to repay the loan in three installments: the principal of 3 million yuan and the interest shall be paid before April 30, 2025; the principal of 10 million yuan and the interest shall be paid before August 30 of the same year; The principal and interest of 37 million yuan will be paid before December 31 of the same year.
However, Zhongke Gaoyou only paid the principal and interest of the first phase of 3 million yuan normally, and failed to pay the related amount of the second phase on time. During this period, Yangzhou Kechuang Fund failed to urge many times, and finally brought a lawsuit to the court.
In fact, * ST cloud network is not an example of the industry.
According to Digital New Energy DataBM.According to the follow-up report by com, there have been many https://www.databm. such as Yijing Optoelectronics, * ST Mubang, Beijing Express, Baoxin Technology , etc. < a href = "with the clearance of the photovoltaic industry to the deep water area." I'm afraid this "debt collection list" will continue to lengthen in the future.
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