JIUZHOUYIGUI TECH(SH:688485) Mei Ri Jing Ji Xin Wen·2025-09-23 03:13Core Viewpoint - The company, Jiuzhou Yigui, has filed a lawsuit against China Railway Third Bureau for overdue payments totaling 27.5366 million yuan, revealing underlying conflicts in their ten-year partnership [1][4]. Group 1: Lawsuit Details - The lawsuit was filed on September 19, 2023, in the Beijing Fangshan District People's Court, and has been accepted for filing [4]. - The dispute stems from a series of procurement contracts signed since 2014, with Jiuzhou Yigui claiming it has fulfilled all contractual obligations while over 22.79 million yuan remains unpaid by China Railway Third Bureau [1][4]. - Jiuzhou Yigui has supplied materials worth 90.0267 million yuan but has only received 62.7296 million yuan in payments, leading to the claim of 22.7958 million yuan in overdue payments [4][5]. Group 2: Financial Implications - Jiuzhou Yigui has indicated that the lawsuit will not affect its normal production and operations, and it has already made provisions for bad debts related to the overdue payments [6][7]. - The company stated that if the overdue amounts are not recovered, it may continue to provision for bad debts, which could negatively impact its financial results [7][8]. - The company's half-year report for 2025 highlighted that accounts receivable represent a significant portion of total assets, indicating potential liquidity risks [8][9]. Group 3: Operational Status - Despite the ongoing lawsuit and accounts receivable challenges, Jiuzhou Yigui's overall operations are progressing steadily, with an order backlog of approximately 610 million yuan as of the end of the reporting period [9].