CHINA WUYI(SZ:000797) Shen Zhen Shang Bao·2026-01-10 07:59Core Viewpoint - China Wuyi has initiated arbitration against Panjia Construction due to a contract dispute involving approximately 216 million yuan, stemming from Panjia's failure to fulfill its financial obligations in a joint real estate project [1][2]. Group 1: Arbitration Details - On January 9, China Wuyi announced that it has formally filed for arbitration with the Fuzhou Arbitration Commission regarding a contract dispute with Panjia Construction, with the amount in question being around 216 million yuan [1]. - The cooperation agreement signed in December 2019 stipulated that both parties would jointly invest 100 million yuan to establish a project company for the development of the "Nanan Wuyi Times Tianyue" real estate project, with China Wuyi holding 65% and Panjia Construction holding 35% of the shares [1][2]. - Panjia Construction has repeatedly failed to provide its proportionate shareholder loans since 2023, leading China Wuyi to cover multiple payments on its behalf [2]. Group 2: Financial Implications - As of the arbitration application date, Panjia Construction has been unable to fulfill its obligation to provide shareholder loans corresponding to its 35% equity stake, resulting in a significant reliance on China Wuyi's funding for project operations [2]. - China Wuyi claims that Panjia's actions constitute a serious breach of contract, demanding repayment of the advanced funds, interest, and guarantee fees totaling approximately 216 million yuan [2]. - For the first three quarters of 2025, China Wuyi reported a total revenue of 2.351 billion yuan, a year-on-year decrease of 50.41%, and a net loss attributable to shareholders of 148 million yuan [3]. Group 3: Company Overview - China Wuyi's main business includes international engineering contracting and real estate development, with products ranging from construction and real estate development to property services and leasing [3]. - As of January 9, the company's stock price was 3.85 yuan per share, with a total market capitalization of 6.047 billion yuan [3].