SCAM(SZ:300554) Ju Chao Zi Xun·2025-05-22 03:29Core Viewpoint - The arbitration ruling from the Singapore International Arbitration Centre (SIAC) indicates that the respondent breached the contract due to failure in passing the cutting tests, leading to financial liabilities [2] Group 1: Arbitration Ruling - The respondent is found to have breached the main contract and the memorandum by not passing the cutting tests [2] - The main contract and related agreements were effectively terminated due to the respondent's breach, but this termination does not have retroactive effect [2] - The respondent is required to pay the applicant for direct losses and interest, with the specific amount to be determined by the arbitration tribunal [2] Group 2: Financial Obligations - The applicant failed to pay transportation fees amounting to 5,825,342 Japanese yen, constituting a breach of the main contract [2] - The applicant is obligated to pay the transportation fees of 5,825,342 Japanese yen along with interest at an annual rate of 10% from the due date until full payment is made [2] Group 3: Background of the Dispute - In August 2019, a contract was signed between Nakamura Superhard and Jiangsu Sanchao for the sale of 225 diamond wire manufacturing devices, totaling 2.2 billion Japanese yen [3] - Jiangsu Sanchao paid 990 million Japanese yen by November 2021, but the products failed to pass customer cutting tests, leading to a withdrawal of Nakamura Superhard personnel [3] - Multiple negotiations between Jiangsu Sanchao and Nakamura Superhard from November 2020 to September 2021 did not resolve the disputes [3] Group 4: Claims by Jiangsu Sanchao - Jiangsu Sanchao filed for arbitration to recover 990 million Japanese yen (approximately 64.7 million RMB) already paid, along with interest [4] - Jiangsu Sanchao seeks compensation for direct losses amounting to 19,766,134.97 RMB and profit losses of 59,060,371.00 RMB [4] - Jiangsu Sanchao also requests reimbursement for legal fees and arbitration costs [4]