JDL(SH:688057) Mei Ri Jing Ji Xin Wen·2025-08-05 07:23Core Viewpoint - The company Jindalai's subsidiary has filed a lawsuit against the Wan'an County government for overdue project compensation, amounting to approximately 40.8 million yuan, which has not been paid since 2019 [1][2]. Group 1: Legal Dispute - Jindalai's subsidiary, Wan'an Jinyuan Water Industry Co., Ltd., has initiated administrative litigation against the Wan'an County government for failing to pay project compensation [1]. - The lawsuit involves compensation for losses incurred due to insufficient wastewater treatment volume, as guaranteed by the Wan'an County government in a 2016 agreement [2]. - The total amount in dispute, including compensation and interest, is estimated at 40.8 million yuan, with the case yet to be heard in court [2]. Group 2: Financial Performance - In 2024, Jindalai reported a revenue of 409 million yuan, a year-on-year decrease of 19%, and a net profit of 137 million yuan, down 25.3% [2]. - The company has recognized over 3.41 million yuan in bad debt provisions due to slow collection of accounts receivable, which totaled 1.192 billion yuan at the end of 2024 [3][4]. - The company has implemented measures to strengthen accounts receivable management, including legal actions for significant receivables, to ensure healthy cash flow [4]. Group 3: Recent Developments - In the first quarter of 2025, Jindalai achieved a revenue of 84.7 million yuan, a slight increase of 1.55%, and a net profit of 49.1 million yuan, up 25.56% year-on-year [4]. - The increase in cash flow from operating activities was significant, with a net cash flow of 88.6 million yuan, reflecting a 171.62% year-on-year increase due to improved collection efforts [4].