Kairuide Holdings Co., Ltd. (hereinafter referred to as "the Company" or "Kairuide") has recently received a civil ruling from the Jingmen People's Court of Hubei Province (hereinafter referred to as "the Court") regarding a dispute involving the plaintiff Agricultural Bank of China, Dezhou Decheng Branch, against the defendant Jingmen Jinmian Textile Co., Ltd., and the third party Kairuide concerning the reversal of creditor rights. The case number is (2023) E 0804 Minchu 564. Details of the case were previously disclosed in the Company's announcement on April 14, 2023 (Announcement No.: 2023-L019). The relevant information is announced as follows:
002072SZSE
Progress Announcement on Litigation Matters
✨ AI Summary
This announcement details the recent developments in a lawsuit involving Kairuide Holdings Co., Ltd. The Hubei Jingmen People's Court dismissed the case filed by Agricultural Bank of China, which sought to reverse a creditor's waiver in Kairuide's bankruptcy proceedings. The ruling is not expected to impact the company's current or future profits. The company will continue to monitor the situation and provide updates as necessary.
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