Announcement on Judicial Auction of Company Assets and Progress of Litigation Matters
The Company and all members of its Board of Directors guarantee that the information disclosed is true, accurate, and complete, and contains no false records, misleading statements, or major omissions.
I. Basic Situation of the Case Involving the Auction
Case: Sales contract dispute between Maiquer Group Co., Ltd. and Guangzhou Minghui Machinery Co., Ltd. (hereinafter referred to as "Minghui Machinery")
Plaintiff: Guangzhou Minghui Machinery Co., Ltd.
Defendant: Maiquer Group Co., Ltd.
Jurisdiction Court: Changji City People's Court
Statement of Facts and Reasons by the Plaintiff: Minghui Machinery is mainly a supplier of machinery and equipment for the Company. The parties signed a "Fixed Assets (Machinery and Equipment) Contract." The Company purchased two sets of aseptic paper packaging flexible filling machines and other mechanical equipment and supporting facilities from the applicant at a price of RMB 8,507,000.00. The Company has paid 30% of the payment, totaling RMB 2,552,100, with the remaining payment of RMB 5,954,900 yet to be paid.