GHMC(SZ:000523) Shang Hai Zheng Quan Bao·2026-02-12 19:44Core Viewpoint - The company, Guangzhou Hongmian Zhihui Science and Technology Innovation Co., Ltd. (formerly known as Guangzhou Langqi Industrial Co., Ltd.), is involved in a legal dispute with Guangzhou Industrial Economic Development Co., Ltd. regarding unpaid debts from a series of chemical raw material procurement contracts totaling approximately RMB 380.24 million, with an outstanding amount of RMB 237.28 million as of the lawsuit date [1][2]. Group 1: Lawsuit Background - The lawsuit originated from a series of procurement contracts signed between November 2019 and July 2020, where the plaintiff supplied a total of 732,498 tons of goods valued at RMB 380,236,843.4, but the defendant only paid RMB 142,956,710.34, leaving an outstanding balance of RMB 237,280,133.06 [1][2]. - The plaintiff claims that the defendant's failure to pay constitutes a breach of contract, thus prompting the lawsuit [2]. Group 2: Court Rulings - The initial ruling by the Guangzhou Intermediate People's Court dismissed the case, citing potential economic crime implications, allowing the plaintiff to pursue legal remedies after the conclusion of any criminal proceedings [5]. - The Guangdong High People's Court later overturned this decision, stating that the facts were unclear and the law was improperly applied, thus ordering a retrial [6][9]. - The retrial by the Guangzhou Intermediate People's Court confirmed the plaintiff's ordinary claim against the defendant for RMB 244,055,469.53, while dismissing other claims [10]. Group 3: Financial Implications - During the company's restructuring, Guangzhou Industrial Economic, as a creditor, has filed a claim with the administrator, who has reserved repayment resources for this claim in the restructuring plan [11]. - The financial impact of this lawsuit on the company's future profits will be determined based on the final audit results [11].