Banjie shares faced huge payouts in the first-instance judgment. How to resolve the drag on performance from the photovoltaic business?

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On the evening of September 18,Banjie Co., Ltd.(SZ002634, previous closing price: 4.50 yuan, market value: 2.067 billion yuan) issued a major litigation progress announcement. It and its holding subsidiaries Banjie New Energy, Yangzhou Banjie andAgricultural Bank ofChina received a first-instance judgment on the financial loan contract dispute of Suzhou Industrial Park Branch of the Company. This news has undoubtedly brought new challenges to the company, and has also caused the market and investors to worry about the future development of Bangjie shares.
Judging from the content of the announcement, the court ruled that Banjie New Energy must repay the relevant debts in 9 instalments within 10 days after the judgment took effect, and subsequent interest and penalty interest will be calculated according to different annual interest rates. In addition, the plaintiff has priority in receiving compensation for the collateral provided by Yangzhou Banjie. Banjie shares also have to bear joint and several liability for repayment of 6 debts within the maximum range of 72 million yuan and 3 debts within the maximum range of 58.9489 million yuan. Although the company stated that the first-instance judgment has not yet taken effect and there is uncertainty about its impact on the company's profits, such a huge amount of debt and potential repayment liability have undoubtedly brought tremendous pressure on the company's capital chain.
Let's take a look at the performance of Banjie shares. Banjie shares have suffered a cumulative loss of 760 million yuan in two years, and the loss expanded in the first half of this year. In 2025, the company's operating income will be 292 million yuan, a year-on-year decrease of 60.45%; the net profit attributable to the parent company will be-150 million yuan, a year-on-year decrease of 5.50%. The company explained that the main reasons for the loss were the debt pressure and the impact of production suspension of subsidiaries in the photovoltaic sector, as well as the provision of expected losses due to debt overdue and default liability due to liquidity risk. Such a severe performance situation makes the company's financial pressure even more prominent when facing financial borrowing disputes.
The author believes that in this context, Banjie's response strategy is crucial. On the one hand, companies need to actively respond to financial loan disputes, evaluate the first-instance judgment in detail, and if necessary, file an appeal within the specified time limit to strive for a more favorable judgment result. At the same time, it is necessary to actively communicate with creditors to strive to reach a settlement plan and relieve short-term financial pressure. On the other hand, the company needs to make adjustments and optimizations at the business level. For the photovoltaic sector, we should conduct in-depth analysis of industry trends and its own advantages, formulate reasonable business development strategies, and improve the profitability of the photovoltaic business. At the same time, it is necessary to strengthen the management of liquidity, rationally arrange the use of funds, and avoid causing greater crises due to the rupture of the capital chain.
In addition, changes in the company's controlling shareholder and actual controller may also bring new development opportunities to the company. New controlling shareholders and actual controllers should give full play to their resource advantages, inject new vitality into the company, and promote the transformation, upgrading and sustainable development of the company's business.
As a former leading company in the industry, Banjie Co., Ltd. has certain brand influence and technical accumulation. However, the current financial borrowing disputes and performance difficulties are undoubtedly major tests on the company's development path. Only by making simultaneous efforts at both the legal and financial levels, actively responding to litigation risks, optimizing business strategies, and improving profitability can Bangjie Co., Ltd. develop stably and achieve sustainable development in a complex market environment. Investors should also pay close attention to the company's litigation progress and performance improvement, and make investment decisions prudently.