Core Viewpoint - The company has delayed its global offering and listing due to a civil lawsuit filed by a shareholder, Ji Yuan Jun Yi, who is dissatisfied with the investment returns from its subsidiary, Shou Lang Ji Yuan [1] Group 1: Legal Dispute - Ji Yuan Jun Yi accuses the company of violating the investment agreement by increasing the investment amount in Shou Lang Ji Yuan's production facilities by approximately 159.8 million RMB without prior notice [2] - The lawsuit also claims that the company set the sales price of ethanol products without board or shareholder approval, violating the fairness clause in the investment agreement [2] - Ji Yuan Jun Yi has requested a preservation order to prevent the company from making unilateral major investment and pricing decisions [2] Group 2: Legal Counsel's Opinion - The company's legal advisors believe that the lawsuit lacks legal basis and the likelihood of Ji Yuan Jun Yi's claims succeeding is low [3] - The company plans to actively defend against the claims made in the lawsuit [3] - The company has secured irrevocable commitments from two new gas suppliers to meet its industrial gas supply needs, ensuring quality consistency with the current supplier [3] Group 3: Financial Impact - If Ji Yuan Mei Jin stops supplying industrial gas, the company could see a revenue decline of approximately 6.2%, a gross margin decrease of about 0.9 percentage points, and an increase in net loss of around 7.2% for 2025 [4] - The decline in gross margin is attributed to fixed costs that will still be incurred despite no revenue generation in the worst-case scenario [4] - The company believes that the legal dispute will not have a significant adverse impact on its overall business [4]
首钢朗泽(02553)：吉元君熠对公司的指控缺乏法律依据 对集团业务无重大不利影响