Progress Announcement on Major Litigation
The company and its board of directors guarantee the authenticity, accuracy, and completeness of the information disclosed, and are free from false records, misleading statements, or material omissions.
I. Progress of Major Litigation Cases
On May 6, 2024, Cross-border E-commerce Co., Ltd. (hereinafter referred to as the "Company" or "Cross-border") disclosed the "Announcement on Major Litigation, Arbitration and Progress" (Announcement No.: 2024-024). Recently, the Shenzhen Intermediate People's Court of Guangdong Province made a judgment on the case of equity transfer and creditor's rescission dispute between the Company and AchieverVentures III (Hong Kong) Limited and GoldenGrowth III (Hong Kong) Limited. The progress of the case is hereby announced as follows:
| Seq. | Litigant/Arbitration Institution Name | Plaintiff | Defendant | Basic Case Details | Amount Involved (RMB) | Case Number | Current Progress |
|---|---|---|---|---|---|---|---|
| 1 | Shenzhen Intermediate People's Court of Guangdong Province | Cross-border | AchieverVentures III (Hong Kong) Limited, GoldenGrowth III (Hong Kong) Limited | Equity transfer dispute, creditor's rescission dispute | 258,693,750.00 | (2024) Yue 03 Min Chu No. 2580 | First Instance Judgment |
(I) Case Number: (2024) Yue 03 Min Chu No. 2580
Dispute Cause: Equity transfer dispute, creditor's rescission dispute