华控赛格：最高法驳回同方投资再审申请，案件尘埃落定

Core Viewpoint - The Supreme People's Court has rejected the retrial application from Tongfang Investment Co., marking the end of the share dispute litigation between Huakong Saige and Tongfang Investment [1] Case Review - The dispute originated from a series of agreements between Tongfang Investment and Huakong Saige regarding the purchase of shares. In January 2017, Tongfang Investment entrusted Huakong with 432.3456 million yuan for investment, with the promise that the funds would be used to acquire 40.5% of Tongfang Environment's shares. In July 2020, Tongfang Investment applied for arbitration, and in April 2022, the Beijing Arbitration Commission ruled that Huakong Saige should pay Tongfang Investment 216.1728 million yuan. Subsequently, the 40.5% shares were transferred to Tongfang Investment, and after fulfilling the arbitration ruling, Huakong Saige filed a lawsuit to claim 20.25% of the shares and corresponding benefits from Tongfang Investment [2] Retrial Application Reasons and Court's Viewpoint - Tongfang Investment's retrial application included several reasons, such as the claim that the second-instance court erred in not suspending the trial during the arbitration process, and that the original judgment misinterpreted the arbitration ruling. The Supreme People's Court found that the second-instance court's actions were appropriate and that the original judgment regarding share distribution was consistent with the arbitration ruling. Therefore, the retrial application was rejected [3] Impact on the Company - The Supreme People's Court's ruling will not affect the current or future profits of Huakong Saige. For the year 2024, the company has applied for execution based on the second-instance ruling and has accounted for the involved 20.25% shares of Tongfang Environment accordingly. As of the announcement date, the company and its subsidiaries do not have any other significant undisclosed litigation or arbitration matters [4]