Jiangmen Kinho Technology Co., Ltd. Announcement on Progress of Major Litigation and Previous Litigation/Arbitration Matters The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and are free from any false representations, misleading statements, or material omissions.
Special Reminder:
- Litigation Stage: First Instance Judgment.
- Party Status of the Listed Company: Shenzhen Haoneng Technology Co., Ltd. (hereinafter referred to as "Shenzhen Haoneng"), a controlled subsidiary of Jiangmen Kinho Technology Co., Ltd. (hereinafter referred to as the "Company"), is the defendant.
- Amount Involved: RMB 154,317,382.45.
- Impact on the Company's Profit and Loss: The Chongqing Free Trade Zone People's Court ruled to dismiss all of the plaintiff's claims. If dissatisfied with the judgment, an appeal can be filed within fifteen days of receiving the judgment. As the case is currently within the appeal period, the final outcome's impact on the Company's current or future profits is uncertain. The Company will make appropriate accounting provisions based on the case's progress and accounting standards.
The Company's controlled subsidiary, Shenzhen Haoneng, is involved in a sales contract dispute lawsuit with Sichuan Changhong Jiechuang Lithium Battery Technology Co., Ltd. (hereinafter referred to as "Sichuan Jiechuang"). The Company recently received a "Civil Judgment" [(2025) Yu 0192 Civil First Instance No. 22142] from the Chongqing Free Trade Zone People's Court. The progress of this case is hereby announced as follows:
I. Basic Situation of This Litigation Matter On December 15, 2023, the Company issued the "Announcement on Major Litigation Involving a Wholly-Owned Subsidiary" (Announcement No.: 2023-110). The announcement disclosed that according to the information from Sichuan Changhong New Energy Technology Co., Ltd. (hereinafter referred to as "Changhong Energy"), Sichuan Jiechuang, a controlled subsidiary of Changhong Energy, filed a lawsuit against Shenzhen Haoneng with the Mianyang Intermediate People's Court on December 11, 2023.
1 In the lawsuit, Sichuan Jiechuang changed its claim, and the amount involved changed from RMB 169,621,641.92 to RMB 154,317,382.45.
On January 11, 2024, the Company issued the "Announcement on Progress of Major Litigation Involving a Wholly-Owned Subsidiary" (Announcement No.: 2024-006), disclosing the receipt of a "Notice of Appearance" [(2023) Chuan 07 Civil First Instance No. 62] and other related litigation documents from the Mianyang Intermediate People's Court of Sichuan Province.
On February 22, 2024, the Company issued the "Announcement on Progress of Major Litigation Involving a Wholly-Owned Subsidiary" (Announcement No.: 2024-016), disclosing that on February 5, 2024, a hearing was held in the Mianyang Intermediate People's Court of Sichuan Province regarding jurisdiction objections, and the court heard matters related to the jurisdiction objection process.