The company and all members of the board guarantee that the information disclosed is true, accurate, and complete, without false records, misleading statements, or significant omissions.
Important Content Reminder:
- Current stage of the lawsuit: Closed;
- Position of the subsidiary in the lawsuit: Jiaxiang County Zhongrui Tourism Development Co., Ltd. as the plaintiff;
- Amount involved in the case: 52.55 million yuan;
- Impact on the company's profit and loss: The first-instance ruling has taken effect, allowing the plaintiff to withdraw the lawsuit.
I. Basic Situation of the Significant Litigation
In the case of Jiaxiang County Zhongrui Tourism Development Co., Ltd. (hereinafter referred to as "Zhongrui Company") against the Jiaxiang County People's Government, Jiaxiang County Cultural Tourism Service Center, and the third party Jiaxiang County Bureau of Culture and Tourism regarding an administrative agreement, Zhongrui Company filed a lawsuit with the Intermediate People's Court of Jining City, Shandong Province. For specific details, please refer to the announcement disclosed on February 10, 2026, on the Giant Tide Information Network (Announcement No.: 2026-010).
II. Progress of the Significant Litigation
Recently, the company received the "Administrative Ruling" (2026) Lu 08 Xing Chu 59 from the Intermediate People's Court of Jining City, Shandong Province, which ruled as follows: allowing the plaintiff Jiaxiang County Zhongrui Tourism Development Co., Ltd. to withdraw the lawsuit. Currently, both parties have reached a settlement regarding part of the payment related to the PPP project and will further exchange evidence materials and negotiate the remaining disputes. If no agreement can be reached through negotiation, the company will file a new lawsuit.