Huafa Properties(SH:600325) Xin Lang Cai Jing·2025-11-19 13:03Core Viewpoint - Zhuhai Huafa Industrial Co., Ltd. has initiated a lawsuit against Jilin Tianmao for the misappropriation of project company funds amounting to 627.93 million yuan, which includes principal and legal fees [1][2][3] Group 1: Lawsuit Details - The plaintiff is Zhuhai Huazhuo, a subsidiary of Huafa, while the defendant is Jilin Tianmao, with two other subsidiaries involved as third parties [2] - The lawsuit was filed on November 11, 2025, for a dispute over the infringement of company interests [2] - The case has been accepted by the Zhuhai Intermediate People's Court, but has not yet entered the trial phase [4] Group 2: Background and Claims - Huazhuo and Jilin Tianmao had a cooperation agreement to jointly establish a target company with a 50:50 equity ratio, which fully owns the project company responsible for the "Huamao Tiancity International Peninsula Garden Project" [3] - The project company has repeatedly requested the return of funds from Jilin Tianmao, totaling 627 million yuan, which have not been returned [3] - The lawsuit requests the return of the misappropriated funds, compensation for legal fees of 930,000 yuan, and coverage of related litigation costs [3] Group 3: Company Impact - The company has stated that it is currently unable to assess the impact of the lawsuit on its profits for the current or future periods due to the case not yet being heard [4] - As of November 18, 2025, the company and its subsidiaries have ongoing litigation totaling 1.742 billion yuan, which represents 8.82% of the audited net assets as of the end of 2024 [4]