Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-12-30 08:05Core Viewpoint - The company has successfully completed the execution phase of a significant lawsuit involving its subsidiary, which has resulted in the recovery of substantial debts and will positively impact the company's profits for the current period [1][6]. Summary by Sections Major Litigation Overview - The subsidiary, Eleventh Technology, initiated legal proceedings against Suzhou Tenghui and its subsidiaries due to construction contract disputes, claiming a total debt of 274,177,549.71 yuan [1]. - The court confirmed that Eleventh Technology holds a debt claim of 181,674,844.71 yuan against Siyang Tenghui Photovoltaic Co., Ltd. and has priority rights for debt recovery [2]. - Additional confirmed claims include 42,598,084.12 yuan from Siyang Tenghui New Energy and 34,260,688.28 yuan from Peixian Tenghui, with Suzhou Tenghui bearing joint liability for these debts [2]. Restructuring and Debt Recovery - The Suzhou Intermediate People's Court accepted restructuring applications for several companies, including Suzhou Tenghui and its subsidiaries, with a total priority recovery amount of 200,148,090.16 yuan for Eleventh Technology [3]. - By the end of 2024, Eleventh Technology received 120,088,854.10 yuan as part of the priority debt recovery from the restructuring process [3]. Execution Progress of the Lawsuit - Recently, Eleventh Technology received an additional priority debt recovery payment of 80,059,236.06 yuan, completing the execution of the lawsuit against Siyang Tenghui Photovoltaic, Siyang Tenghui New Energy, and Peixian Tenghui [6]. Impact on Company Profits - The recovery of debts will influence the previously recorded impairment provisions, leading to an increase in the company's profits for the current period, with specific amounts pending confirmation from auditing institutions [6]. Other Ongoing Litigation - Eleventh Technology is involved in additional construction contract disputes with other entities, with some cases already resulting in enforceable judgments, and applications for compulsory execution have been filed [7].