NB CONSTRUCTION(SH:601789) Zheng Quan Zhi Xing·2025-07-02 16:25Core Viewpoint - The company, through its subsidiary, has initiated a lawsuit against Jiaxing Expressway Construction Development Co., Ltd. for unpaid project funds totaling approximately 101.25 million yuan, along with overdue payment losses and additional claims related to project damages [1][2][3]. Group 1: Lawsuit Overview - The lawsuit is currently in the acceptance stage at the Jiaxing Xiuzhou District People's Court [1]. - The total amount involved in the lawsuit includes 101,251,032.59 yuan in unpaid project funds, 8,771,640.23 yuan in overdue payment losses, and a claim for 1,890,000 yuan due to the cancellation of steel pipe pile construction [1][2]. - The company is seeking to confirm its right to priority compensation from the proceeds of the project in question [3]. Group 2: Contractual Background - The lawsuit arises from a construction contract signed for the Jiaxing Urban Ring Road Project, which was completed on May 16, 2021 [2]. - A supplementary agreement was signed in October 2022 to address project timelines and adjustments, but the project has not yet completed the required financial audit [2]. - The company claims that the settlement price for the project should be 487,087,307.59 yuan, with 385,836,275 yuan already paid, leaving an outstanding balance of 101,251,032.59 yuan [2]. Group 3: Potential Impact on Financials - The company acknowledges that the ongoing litigation may have uncertain impacts on its current and future profits, as the legal proceedings are still in progress [1][3]. - The company will assess the financial implications based on the developments in the case and will adhere to relevant legal and accounting standards for any necessary financial reporting [3].