LONGZHOU GROUP CO.(SZ:002682) 第一财经·2025-11-26 10:21Core Viewpoint - Longzhou Co., Ltd. (龙洲股份) announced two significant lawsuits involving its subsidiary Dongguan Zhongqi Hongyuan Automobile Co., Ltd. (中汽宏远) due to contract disputes related to electric bus battery failures, with total claims amounting to approximately 431 million yuan [3][6][7]. Group 1: Lawsuit Details - The lawsuits involve two plaintiffs: Dongguan Bus Co., Ltd. (东莞巴士有限公司) and Dongguan City Bus Transportation Co., Ltd. (东莞市城巴运输有限公司), with claims of 205 million yuan and 226 million yuan respectively [6]. - The core issue stems from battery failures in electric buses sold in 2018, leading to operational disruptions starting from 2021 [7]. - Both plaintiffs are seeking compensation for losses due to vehicle downtime, legal fees, and other related costs, with specific demands for warranty obligations to be fulfilled by Zhongqi Hongyuan [7][8]. Group 2: Company Background - Zhongqi Hongyuan is the only automobile manufacturer in Dongguan with qualifications for both traditional and new energy vehicles, focusing on electric buses and other electric vehicles [11]. - The company was established in October 2013, with a registered capital of 120 million yuan, and is recognized as a national high-tech enterprise [11][12]. - Longzhou Co., Ltd., the parent company, has faced financial difficulties, reporting losses for three consecutive years, with a net loss of approximately 35.2 million yuan in 2023 [14].