Shang Hai Zheng Quan Bao·2025-12-13 10:34Core Viewpoint - The long-standing legal dispute between Huaying Technology and its former controlling shareholder has concluded, with the Supreme People's Court ruling in favor of Huaying Technology, ordering a compensation payment of 3.029 billion yuan from Huaying Bermuda and joint liability from Datong Company and China Display [4][7]. Group 1: Legal Proceedings - The lawsuit initiated by Huaying Technology against Huaying Bermuda for performance compensation began on December 29, 2018, and was accepted by the Fujian High Court on January 4, 2019 [6]. - The initial claim was for 1.914 billion yuan, which was later increased to 3.029 billion yuan based on audited results from 2018 [6]. - The first-instance judgment in June 2023 ordered Huaying Bermuda to pay the compensation within ten days, with Datong Company and China Display bearing joint liability [6][7]. Group 2: Company Background - Huaying Technology, originally known as Mindong Electric (Group) Co., Ltd., was listed on the Shenzhen Stock Exchange in 1993 and primarily engages in the R&D, design, production, and sales of display panels and modules [9]. - The company underwent a significant asset restructuring in 2010, leading to Huaying Bermuda becoming the controlling shareholder, and the business focus shifted from motor manufacturing to flat panel display devices [9][10]. - As of September 30, 2023, the top three shareholders of Huaying Technology are Fujian Electronic Information Industry Venture Capital Partnership (13.73%), Fujian Electronic Information Group (10.73%), and Huaying Bermuda (9.09%) [11]. Group 3: Financial Performance - Huaying Technology has faced ongoing financial challenges, reporting a revenue of 1.039 billion yuan for the first three quarters of this year, a year-on-year decline of 21.03%, and a net loss of 722 million yuan [11].