TOND(SZ:002360) Zheng Quan Zhi Xing·2025-05-12 12:26Core Viewpoint - Shanxi Tongde Chemical Co., Ltd. is involved in a legal dispute with Ping An International Leasing Co., Ltd. regarding a financing lease contract, with a court hearing scheduled for July 1, 2025 [1][5]. Group 1: Legal Proceedings - The lawsuit involves a claim for unpaid rent and penalties totaling RMB 14,720,000.00, with the plaintiff seeking to enforce the contract and recover additional fees [2][5]. - The lease agreement spans 24 months, commencing on July 1, 2024, and concluding on April 1, 2026, with a total rent of RMB 21,080,000.00 [2][3]. - The defendant has been in default since April 1, 2025, failing to pay five installments of rent [4][5]. Group 2: Financial Impact - As a result of the lawsuit, the company has had RMB 2,353,408.35 frozen in various bank accounts, representing 0.12% of the latest audited net assets and 1.25% of the cash balance [6][7]. - The company maintains a positive cash flow from operating activities, with a net cash flow of RMB 15,314,500.00 for the reporting period, indicating a stable financial position [6][7]. - The company asserts that the account freeze has not significantly impacted its daily operations and that it will actively pursue legal avenues to resolve the matter [7]. Group 3: Company Operations - The company continues its normal production and business activities without significant adverse effects from the account freeze [7]. - The company emphasizes that the frozen accounts do not include major banking accounts and do not violate any stock exchange regulations [7]. Group 4: Disclosure and Compliance - The company has no undisclosed litigation or arbitration matters as of the announcement date [8]. - The company will continue to monitor the situation and comply with relevant disclosure obligations as per legal and regulatory requirements [8].