LONGZHOU GROUP CO.(SZ:002682) Mei Ri Jing Ji Xin Wen·2025-11-25 15:09Core Viewpoint - Longzhou Co., Ltd. (龙洲股份) announced two significant lawsuits involving its subsidiary Dongguan Zhongqi Hongyuan Automobile Co., Ltd. (中汽宏远) due to contract disputes related to electric bus battery failures, with total claims amounting to approximately 431 million yuan [1][5][9]. Group 1: Lawsuit Details - The lawsuits involve Dongguan Buses Co., Ltd. and Dongguan City Bus Transportation Co., Ltd. as plaintiffs, with claims of 205 million yuan and 226 million yuan respectively [5]. - The core issue stems from battery failures in electric buses sold by Zhongqi Hongyuan in 2018, which led to operational disruptions starting in 2021 [7][8]. - The plaintiffs are seeking compensation for losses due to vehicle downtime, attorney fees, and other related costs, with a total claim amount of approximately 431 million yuan [5][8]. Group 2: Company Background and Financial Impact - Longzhou Co., Ltd. has faced financial difficulties, reporting net losses of 79.23 million yuan, 352 million yuan, and 348 million yuan from 2022 to 2024 [15]. - The company reported a revenue decline of 26.61% year-on-year for the first three quarters of 2025, with a net profit attributable to shareholders of -95.64 million yuan [18]. - As of November 25, 2023, Longzhou's stock price increased by 2.76%, with a total market capitalization of approximately 3.144 billion yuan, reflecting a year-to-date increase of over 32% [18].