Announcement on Progress of Litigation Matters and Freezing of Some Bank Accounts
The company and its board of directors guarantee the information disclosed is true, accurate, and complete, with no false representations, misleading statements, or material omissions.
Veyong Pharmaceutical (Group) Co., Ltd. (hereinafter referred to as "the Company" or "Veyong Pharmaceutical") recently received the execution ruling No. (2026) Yun 07 Zhi 201 series for the dispute over the design and construction engineering of Lijiang Heyue Huameida Plaza Hotel in Yunnan Province, as well as notices of pre-litigation property preservation for other contract disputes. Bank inquiries revealed that some of the Company's and its subsidiaries' bank accounts have been frozen. The relevant situation is hereby announced as follows:
I. Basic Situation of Bank Account and Fund Freezing
As of the date of this announcement, due to litigation property preservation for engineering payment settlement contract disputes, 26 bank accounts of the Company and its subsidiaries have been frozen, with a frozen amount of RMB 34,037.49 million. Due to the execution ruling No. (2026) Yun 07 Zhi 201 series for the Lijiang Heyue case, 19 bank accounts have been frozen, with a frozen amount of RMB 1,897.81 million. In total, 45 bank accounts have been frozen, with a cumulative frozen amount of RMB 35,935.30 million. After deducting the RMB 5,541.53 million in duplicate freezes and the RMB 857.29 million already paid and awaiting court release, the actual frozen amount is RMB 29,536.48 million. The details are as follows: