Sunxing(SH:603978) Shang Hai Zheng Quan Bao·2025-08-19 20:49Core Viewpoint - Shenzhen New Star Light Alloy Materials Co., Ltd. is involved in a lawsuit concerning construction contract disputes, with its wholly-owned subsidiary, Ganzhou Songhui Fluorine New Materials Co., Ltd., as the defendant [2][3]. Group 1: Lawsuit Details - The lawsuit was initiated by China Construction Guoxin Engineering Construction Group Co., Ltd. against Ganzhou Songhui for unpaid construction fees totaling RMB 3,203,745 [3][4]. - The total contract value for the seven contracts in question is RMB 20.14 million, with the dispute arising from the remaining unpaid amount [3]. - The reasons for the unpaid amount include the plaintiff's failure to pay workers' wages and issues with project quality not meeting contract standards [4]. Group 2: Financial Implications - The court has frozen RMB 3,412,025 in the bank account of Ganzhou Songhui for one year as part of the asset preservation request [5]. - The lawsuit's outcome is currently uncertain, and it is not possible to assess its impact on the company's profits at this stage [2][6]. - Despite the frozen account, the company can still operate through other unfrozen accounts, ensuring stability in daily operations [6]. Group 3: Other Legal Matters - As of the announcement date, there are no other undisclosed significant lawsuits or arbitration matters involving the company or its subsidiaries [7].