XCEC(SH:600777) Xin Lang Cai Jing·2025-10-12 08:35Core Points - *ST Xinchao announced on October 13 that three lawsuits in the United States have been withdrawn by the plaintiffs and counter-plaintiffs, resulting in the termination of the cases without negative impact on the company's financial performance [1][2] - The lawsuits involved the protection of the company's assets in the U.S. and were initiated by former directors of its subsidiaries after being dismissed [1][2] Summary by Sections - Lawsuit Details - The first case was filed on June 30, 2025, in Texas, with the plaintiff being Yitai Co., and the defendants including Xinchao Energy and 12 subsidiaries [1] - The second and third cases were filed on August 4 and August 8, 2025, in Delaware and Nevada, respectively, involving former directors of U.S. subsidiaries [1] - Resolution of Lawsuits - All three lawsuits were officially withdrawn and confirmed by the courts on October 9, 2025 [2] - The company held its 13th Board of Directors' fourth meeting on the same day to address the replacement of directors in its U.S. subsidiaries [2] - Governance Improvements - The company has completed the director replacement process for all U.S. subsidiaries and the new directors have assumed their roles [2] - The company aims to enhance internal governance for its domestic and overseas subsidiaries and will fulfill its information disclosure obligations in a timely manner [2]