SANMU GROUP(SZ:000632) Mei Ri Jing Ji Xin Wen·2025-10-29 22:21Core Viewpoint - Sanmu Group is facing a significant lawsuit from Fuzhou Rongtou Supply Chain Management Co., Ltd. due to a breach of contract involving 28 sales contracts for non-delivery of goods valued at approximately 5.74 billion yuan, leading to a total claim of about 6.1 billion yuan [1][2][8]. Group 1: Lawsuit Details - The lawsuit involves nine claims filed by Fuzhou Rongtou, seeking to terminate all 28 contracts and recover related payments due to Sanmu Group's failure to deliver the contracted goods [7][8]. - The court hearing is scheduled for November 10, 2025, and Sanmu Group has received the summons from the Fuzhou Jin'an District People's Court [3][4]. - The claims include substantial amounts for principal, interest, penalties, and legal fees, with one claim alone seeking over 60 million yuan in refunds and penalties [8]. Group 2: Background of the Dispute - The dispute originates from an annual procurement agreement signed on December 31, 2024, where Sanmu Group was to supply various metals to Fuzhou Rongtou [6][7]. - The contracts were signed between February and May 2025, but Sanmu Group failed to fulfill the delivery obligations as per the agreed timelines [7]. Group 3: Involvement of Shareholders and Subsidiaries - Fuzhou Rongtou has also requested priority rights over specific assets, including shares held by Sanmu Group's major shareholder, Fuzhou Development Zone State-owned Assets Operation Co., Ltd. [10][13]. - The lawsuit includes multiple subsidiaries of Sanmu Group as co-defendants, indicating a broader financial implication for the company [13][14].