WZ Group(SH:600704) Xin Lang Cai Jing·2025-11-07 14:03Core Viewpoint - The court has terminated the execution procedure of a contract dispute involving a debt of 491 million yuan, which will not significantly impact the company's profits as bad debt provisions have already been made [1][4]. Group 1: Case Background - The dispute originated from a contract disagreement between Zhejiang Zhongda Yuantong Financing Leasing Co., Ltd. and Qingfeng Culture, with a court ruling requiring Qingfeng Culture to pay 488.6 million yuan plus penalties based on a principal of 350 million yuan at an annual interest rate of 12% since January 1, 2021 [2]. - The case has been ongoing for over a year, with multiple announcements regarding its progress made by the company [2]. Group 2: Court Ruling and Company Actions - The Hangzhou Intermediate People's Court has ruled to terminate the execution procedure, but the company retains the right to pursue the debt if any executable assets are found [3]. - The company has already made provisions for bad debts as of the end of 2024, ensuring that the termination of the execution will not have a significant impact on current or future profits [4].