Securities Code: 002124
Securities Abbreviation: Tianbang Foods
Announcement Number: 2026-036
Tianbang Foods Co., Ltd.
Announcement on Major Arbitration and Progress of Prior Cumulative Litigation and Arbitration Cases
The Company and the entire Board of Directors guarantee that the information disclosed is true, accurate, and complete, and contains no false records, misleading statements, or significant omissions.
Special Reminders:
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Litigation Stage: Enforcement stage. One of the involved subsidiaries, Jiande Nongsheng Animal Husbandry Technology Co., Ltd. (hereinafter referred to as "Jiande Nongsheng"), has had its bankruptcy reorganization application accepted by the court, as evidenced by the "Civil Ruling" and "Decision" received.
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Party Status of the Listed Company: Judgment debtor.
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Amount Involved: Approximately RMB 1.296 billion in engineering fees, plus interest on fund occupation, late fees, and arbitration fees, involving five subsidiaries.
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Impact on Company Profit and Loss: The Jiande Municipal People's Court in Zhejiang Province has ruled for the reorganization of Jiande Nongsheng, one of the involved subsidiaries. The reorganization plan is not yet finalized, and future reorganization matters remain uncertain. Therefore, the ultimate impact of the reorganization on the company is currently uncertain. The company will make appropriate accounting adjustments based on the reorganization results and relevant enterprise accounting standards, with the final impact amount subject to the company's annual audit results. Investors are kindly advised to pay attention to investment risks.
I. Basic Situation of This Arbitration Case
In March 2024, Zhejiang Construction Investment Group Co., Ltd. (hereinafter referred to as "Zhejiang Jiantou") filed an arbitration application with the Hangzhou Arbitration Commission due to a dispute over a construction engineering contract. Zhejiang Jiantou requested that the respondents, Huzhou Wuxing Nongsheng Animal Husbandry Co., Ltd. (hereinafter referred to as "Wuxing Nongsheng"), Quzhou Yihai Agricultural Development Co., Ltd. (hereinafter referred to as "Yihai Agricultural"), Huzhou Nanxun Nongsheng Animal Husbandry Co., Ltd. (hereinafter referred to as "Nanxun Nongsheng"), Hangzhou Fuyang Nongsheng Ecological Breeding Co., Ltd. (hereinafter referred to as "Fuyang Nongsheng"), Jiande Nongsheng Animal Husbandry Technology Co., Ltd. (hereinafter referred to as "Jiande Nongsheng"), Hangzhou Wisecool Food Co., Ltd. (hereinafter referred to as "Hangzhou Wisecool"), and Tianbang Foods pay engineering fees, fund occupation fees, late fees, and arbitration fees. In July 2024, the company received five arbitration awards from the Hangzhou Arbitration Commission, with case numbers (2024) Hang Zhong 01 Cai Zi No. 532, 533, 534, 535, and 544, respectively.
The awards ordered the respondents to pay engineering fees totaling RMB 1,150,952,497.40, plus fund occupation fees, late fees, arbitration fees, and attorney fees. Hangzhou Wisecool and Tianbang Foods were jointly and severally liable for the debts determined by these five awards. For the basic situation of this case, please refer to the "Announcement on Cumulative Litigation and Arbitration" disclosed by the company on the Juchao Information Network (http://www.cninfo.com.cn) on March 26, 2024 (Announcement Number: 2024-045).
In September 2024, the company received five "Notices of Enforcement" and "Enforcement Rulings" and other legal documents from the Hangzhou Intermediate People's Court (hereinafter referred to as "Hangzhou Intermediate Court"). The arbitration awards issued by the Hangzhou Arbitration Commission (2024) Hang Zhong 01 Cai Zi No. 532, 533, 534, 535, and 544 have taken legal effect. The applicant has applied to the Hangzhou Intermediate Court for compulsory enforcement, and the Hangzhou Intermediate Court officially accepted the enforcement case on August 29, 2024. For details, please refer to the "Announcement on Arbitration Case Results of the Company and its Holding Subsidiaries" disclosed by the company on the Juchao Information Network (http://www.cninfo.com.cn) on July 12, 2024 (Announcement Number: 2024-083).