TIBET DEVELOPMENT CO., LTD.
Stock Code: 000752 Stock Abbreviation: *ST Xifa Announcement No.: 2026-054
Announcement on Progress of Litigation Involving Tibet Development
The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and that there are no false records, misleading statements, or significant omissions.
I. Case (2024) Zang 01 Min Chu No. 10
(I) Background of the Case
Tibet Development Co., Ltd. (hereinafter referred to as the "Company" or "Tibet Development") received materials including a "Civil Complaint" from the Lhasa Intermediate People's Court of Tibet Autonomous Region (hereinafter referred to as "Lhasa Intermediate Court") in March 2024. The plaintiff, Carlsberg International A/S (hereinafter referred to as "Carlsberg International"), requested that Tibet Development, as one of the defendants, return the RMB 95 million distributed based on the 2018 dividend resolution to Lhasa Brewery Co., Ltd. (hereinafter referred to as "Lhasa Brewery"); and simultaneously, as one of the defendants, pay RMB 95 million for fund occupation fees; and that Mr. Luo Xi, as one of the defendants, bear joint and several liability for the repayment of the aforementioned amounts. In July 2024, the Company received the "Civil Judgment" (2024) Zang 01 Min Chu No. 10 from the court, which dismissed all of Carlsberg International's litigation claims. In October 2024, the Company received relevant legal documents from the Higher People's Court of Tibet Autonomous Region (hereinafter referred to as "Tibet Higher Court") (2024) Zang Min Zhong No. 27. Carlsberg International appealed to the Tibet Higher Court, which accepted the appeal.
For detailed information on this case, please refer to the announcements disclosed on the CNINFO website by the Company on September 5, 2023, October 16, 2023, November 17, 2023, February 3, 2024, February 22, 2024, March 13, 2024, March 16, 2024, April 2, 2024, April 9, 2024, May 6, 2024, July 26, 2024, and October 17, 2024.
(II) Latest Progress of the Case
The Company recently received the "Civil Ruling" (2024) Zang Min Zhong No. 27 issued by the Tibet Higher Court, the main content of which is announced as follows: