Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-07-28 23:39Core Viewpoint - The company, Hainan Ruize New Building Materials Co., Ltd., has initiated a lawsuit against China Resources Cement Technology Co., Ltd. and Zhaoqing Jingang Cement Co., Ltd. over a share transfer dispute, claiming damages due to alleged mismanagement and breach of contract [2][3][4]. Group 1: Lawsuit Details - The lawsuit has been accepted by the Sanya City Chengjiao People's Court, with the case number (2025) Qiong 0271 Minchu 16295, filed on July 21, 2025 [2][3]. - The amount involved in the lawsuit is approximately RMB 95.25 million, including legal fees and other related costs [2]. - The plaintiff, Hainan Ruize, claims that after transferring 85% of its shares in Zhaoqing Jingang Cement to China Resources Cement, the latter's management decisions led to significant losses for the company, culminating in the cessation of operations in June 2023 [3][4]. Group 2: Claims and Requests - The plaintiff seeks compensation of RMB 17.7 million for the loss in value of its 15% stake in Zhaoqing Jingang Cement, with the actual amount to be determined by assessment [7]. - Additionally, the plaintiff requests that Zhaoqing Jingang Cement buy back its 15% stake for RMB 77.55 million, also subject to assessment [7]. - The plaintiff demands that China Resources Cement cover legal fees amounting to RMB 300,000 and bear the costs of litigation, preservation, and evaluation [7]. Group 3: Company’s Legal Context - As of July 5, 2025, the company has reported a total of 38 new lawsuits as a plaintiff, with a total amount involved of RMB 47.47 million, and 12 ongoing lawsuits as a defendant, amounting to RMB 8.61 million [8]. - The company emphasizes that the impact of the current lawsuit on its profits remains uncertain until the court proceedings commence [9].