Minmetals New Energy(SH:688779) Zheng Quan Zhi Xing·2025-07-11 14:08Core Viewpoint - The company is currently involved in a lawsuit where its wholly-owned subsidiary, Hunan Changyuan Lithium Technology Co., Ltd., and Jinch Energy Materials Co., Ltd. are the plaintiffs, seeking compensation of approximately RMB 180.56 million plus related interest from several defendants [1][2]. Group 1: Lawsuit Overview - The lawsuit pertains to a contract dispute involving Hunan Changyuan Lithium Technology Co., Ltd. and Jinch Energy Materials Co., Ltd. against Zhizun Lithium Industry Group Co., Ltd., Jiangxi Jinhui Lithium Industry Co., Ltd., and Yichun Tianzhuo New Materials Co., Ltd. [2][3]. - The case was heard in the Changsha Intermediate People's Court on June 5, 2025 [2]. Group 2: Judgment Details - The court's first-instance judgment includes the cancellation of the lithium carbonate procurement framework agreement and orders the defendants to return prepayments along with interest calculated at double the one-year Loan Prime Rate (LPR) from September 30, 2024, until actual payment [2][3]. - The judgment also imposes penalties on the defendants, including a breach of contract fine and a 10% penalty on unpaid amounts, totaling RMB 9,032,174.7 [3]. Group 3: Financial Implications - The company has prudently recognized a bad debt provision in its 2024 annual report in relation to this lawsuit [2][3]. - The first-instance judgment may potentially increase the company's current profits, subject to audit confirmation [2][3].