Guangdong Tengen Industrial (SZ:003003) Shang Hai Zheng Quan Bao·2026-01-13 19:14Core Viewpoint - The announcement details the ongoing litigation involving Guangdong Tianyuan Industrial Group Co., Ltd.'s subsidiary, Tianyuan Energy Sales Co., Ltd., against Taiyuan Economic Development Co., Ltd. regarding a contract dispute, with a current claim amount of approximately RMB 9.1 million [1][2][3]. Group 1: Litigation Details - Tianyuan Energy entered into two procurement contracts with Taiyuan Economic Development on November 11, 2022, with a total deposit of RMB 17.62 million paid [2]. - Taiyuan Economic Development failed to fulfill its delivery obligations, leading to a claim of RMB 10.09 million for undelivered goods [2]. - The case has progressed to a forced execution stage, with a recent court ruling adding Taiyuan Economic Development's shareholder, Shanxi Jindi Urban Operation Group Co., Ltd., as a co-defendant [3][5]. Group 2: Financial Implications - The company has made a provision for bad debts amounting to RMB 3.08 million related to this case [1][9]. - The court's decision to add Shanxi Jindi as a defendant indicates potential for recovery, but the execution outcome remains uncertain, affecting the company's profit outlook [1][9]. - The total amount involved in unresolved litigation for the company and its subsidiaries is approximately RMB 21.98 million, representing 1.72% of the audited net assets for 2024 [9].