Chengdu Huaze Cobalt Nickel Materials Co., Ltd. (hereinafter referred to as "the Company") announces the following regarding the labor arbitration progress involving Ms. Guo Lihong, the former CFO of the Company.
1. Basic Situation of the Arbitration
On July 31, 2018, the Xi'an Labor and Personnel Dispute Arbitration Committee accepted the case filed by Ms. Guo Lihong against the Company regarding a labor dispute. The details were published on August 1, 2018, on the Giant Tide Information Network, Securities Times, and Securities Daily (Announcement No.: 2018-118).
On September 10, 2018, the Company received a decision from the Xi'an Labor and Personnel Dispute Arbitration Committee, which accepted Ms. Guo's request to withdraw her case on September 6, 2018. The withdrawal was approved in accordance with the law, as detailed in the announcement published on September 12, 2018 (Announcement No.: 2018-144). After the withdrawal, Ms. Guo refiled for labor arbitration on September 28, 2018, with a claim amount of 10,725,345 yuan (Announcement No.: 2018-146).