Important Content Reminder:
- Current litigation stage: Retrial review stage.
- Position of the listed company: Respondent (first-instance plaintiff, second-instance appellant) is a wholly-owned subsidiary of the listed company.
- Amount involved: The first-instance lawsuit involves a principal amount of RMB 28.32 million and a penalty of RMB 775,300, along with litigation and preservation fees. The second-instance appeal involves the same principal amount and a penalty of RMB 1.57 million, along with related fees. The retrial judgment involves a principal amount of RMB 28.32 million and a penalty of RMB 3.58 million, along with related fees.
- Impact on the listed company's profits: As of the date of this announcement, the case is still in the retrial review stage. The company is currently unable to assess whether the case may affect its current or future profits; the final accounting treatment and impact will depend on the court's execution and the annual auditor's audit results. Investors are advised to make cautious decisions, invest rationally, and be aware of risks.
1. Basic Situation of the Litigation
(1) First-instance Lawsuit and Judgment
Hunan Lingpai Technology Group Co., Ltd. (hereinafter referred to as "the Company")’s wholly-owned subsidiary, Hunan Lingpai Lithium Energy Co., Ltd. (formerly known as Hunan Lingpai New Energy Technology Co., Ltd., hereinafter referred to as "Hunan Lingpai"), filed a lawsuit against Liuzhou Keyi Power Technology Co., Ltd. (hereinafter referred to as "Liuzhou Keyi") for breach of contract in the People's Court of Qidong County, requesting that Beijing Keyi Power Technology Co., Ltd. (hereinafter referred to as "Beijing Keyi") bear joint liability for compensation. Hunan Lingpai requests the court to confirm that Liuzhou Keyi and Beijing Keyi repay the principal amount of RMB 28.32 million and pay a penalty of RMB 775,300, as well as bear the litigation costs and preservation fees.
Specific details can be found in the announcement disclosed by the Company on November 3, 2023, on the Giant Tide Information Network (Announcement No.: 2023-121).
In June 2024, the Company received the Civil Judgment (2023) Xiang 0426 Minchu 2404 from the People's Court of Qidong County, with the first-instance judgment results as follows: "1. The defendant Liuzhou Keyi shall pay the plaintiff Hunan Lingpai RMB 19,395,628.8 within ten days from the date this judgment takes effect; 2. The plaintiff Hunan Lingpai's other claims are dismissed. The case acceptance fee is RMB 187,329, and the preservation application fee is RMB 5,000, totaling RMB 192,329, which shall be borne by the defendant Liuzhou Keyi for RMB 128,205 and by the plaintiff Hunan Lingpai for RMB 64,124." If dissatisfied with this judgment, an appeal can be filed within fifteen days from the date of delivery of the judgment.