Tungray appeals court ruling holding subsidiary liable for RMB 9.75 million ICBC debt
TRSG•Tungray Technologies filed an appeal on October 8, 2026, against a judgment requiring related party Fudingtai to repay ICBC approximately RMB 9.75 million, including interest. Its subsidiary Tongri Mechanical and another guarantor were held jointly and severally liable; the appeal remains pending.
1. Appeal remains pending
Tungray Technologies filed an appeal on October 8, 2026, against a September 21 ruling by the Pingdu court in favor of ICBC. The court ordered Fudingtai to repay approximately RMB 9.75 million, including interest, with Tongri Mechanical and another guarantor facing joint and several liability.
2. Guarantee and loan details
The lawsuit concerns an RMB 9.7 million loan from ICBC to Fudingtai, a related party. Tongri Mechanical guaranteed Fudingtai’s obligations in September 2025, with a maximum guaranteed amount of RMB 15 million.
