Jiangmen Keheng Industrial Co., Ltd. Announcement on Progress of Major Litigation and Prior Litigation Matters of Subsidiaries The Company and 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 Notes:
- Litigation Stage: Final judgment of the second instance.
- Party Status of the Listed Company: Appellee (original plaintiff).
- Amount Involved: In the first instance judgment, Shenzhen Lianteng Technology Co., Ltd. (hereinafter referred to as "Shenzhen Lianteng") was ordered to repay the principal loan amount of RMB 22,924,240, legal fees of RMB 30,000, and related loan interest to Jiangmen Keheng Industrial Co., Ltd. (hereinafter referred to as "the Company").
- Impact on the Company's Profit and Loss: The Company had previously made full provision for bad debt on the accounts receivable related to the litigation with Shenzhen Lianteng in accordance with the "Accounting Standards for Business Enterprises." Given that the payment obligations under the "Civil Judgment" are yet to be fulfilled by the original defendant, the Company will reverse the previously accrued bad debt provisions based on the actual amount recovered. The specific impact of this case on the Company's current or future profits is uncertain and will ultimately depend on the actual performance of the original defendant. The relevant accounting treatment and financial data will be subject to the confirmation of the audit institution's annual audit. Investors are advised to pay attention to investment risks.
The Company recently received the "Civil Judgment" [(2026) Yue 07 Min Zhong No. 2257] issued by the Intermediate People's Court of Jiangmen City, Guangdong Province, and hereby announces the progress of the litigation as follows: