Guangdong Baibolong Co., Ltd. (hereinafter referred to as "the Company") and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, without false records, misleading statements, or major omissions.
I. Progress of the Litigation
The Company recently received the civil judgment [2022] Yue 0309 Minchu 15885 from the Longhua District People's Court of Shenzhen, which made a first-instance judgment in the construction contract dispute case between its wholly-owned subsidiary Shenzhen Yiqian Global Design Co., Ltd. (hereinafter referred to as "Yiqian Company") and Yingguangsha Group Co., Ltd. (hereinafter referred to as "Yingguangsha") and Chen Guisheng. The relevant matters are announced as follows:
(1) Basic Situation of the Case
The plaintiff (counter-defendant) Yiqian Company and the defendants Chen Guisheng and Yingguangsha are involved in a construction contract dispute. The Longhua District People's Court of Shenzhen accepted the case on October 25, 2022, and applied ordinary procedures by combining the main and counterclaims, and the case has now concluded.