Sunxing(SH:603978) Shang Hai Zheng Quan Bao·2025-10-13 20:02Core Points - The company announced that its wholly-owned subsidiary, Ganzhou Songhui Fluorine New Materials Co., Ltd., has reached a settlement in a lawsuit, with the plaintiff withdrawing the case [2][11] - The settlement amount involved is 2.6 million RMB, which will not have a significant impact on the company's current or future profits [2][11] Legal Case Overview - The lawsuit was initiated by China Construction Guoxin Engineering Construction Group Co., Ltd. against Ganzhou Songhui for a construction contract dispute, claiming unpaid project funds totaling 3,412,025 RMB [3][4] - The case involved seven construction contracts signed between December 1, 2022, and June 20, 2023, with a total contract value of 20.14 million RMB [3] Settlement Details - The parties agreed that as of September 22, 2025, the total outstanding amount owed by Ganzhou Songhui is 2.6 million RMB, which includes retention money [6] - The plaintiff will withdraw the lawsuit and lift the asset freeze on the defendant's bank account upon receiving the court's ruling [6][9] - The defendant is required to pay 2 million RMB within seven working days after the court's ruling and the remaining 600,000 RMB within 30 days after obtaining the joint acceptance approval [8] Financial Impact - The lawsuit's resolution is expected to have no major adverse effects on the company's financial performance [11] - The previously frozen amount of 3,412,025 RMB in the bank account has been released as of the announcement date [10] Fundraising and Financial Management - The company has opened a temporary special account for fundraising to supplement working capital, with a maximum of 50 million RMB to be used within 12 months [16][17] - A tripartite supervision agreement has been signed with the bank and the sponsor to ensure proper management and usage of the raised funds [19][21]