Core Points - The company announced that its wholly-owned subsidiary, Guangdong Mingzhu Group Land Co., Ltd., is in the execution phase of a lawsuit against Xingning Qisheng Industrial Co., Ltd. regarding a debt recovery case [1][2] - The total amount involved in the case includes a principal loan of 433,624,807.88 yuan and interest of 91,538,479.86 yuan as of November 28, 2022 [1][2] - The company is currently unable to determine the impact of this lawsuit on its profits due to the uncertainty surrounding the execution results [1][4] Case Background - The lawsuit stems from a cooperation agreement related to the "Liankang City (Phase 6 and 7)" real estate development project, which expired on November 15, 2021 [2] - A debt settlement agreement was signed on March 14, 2022, but Xingning Qisheng failed to meet the repayment obligations, leading to legal action [2][3] - The case has progressed through various legal stages, including a civil judgment and a subsequent application for retrial by Xingning Qisheng, which was ultimately rejected by the provincial high court [4] Current Status - The case is now in the execution phase, with the company actively pursuing the recovery of the owed amounts [1][4] - The company will continue to disclose updates regarding the lawsuit in accordance with legal regulations [4]

Core Viewpoint - ST Jinggu's subsidiary, Huiyin Wood Industry, is embroiled in a civil loan dispute, leading to asset seizures and a significant impact on its financial performance [1][3][5] Group 1: Legal Issues - The court has seized Huiyin Wood Industry's finished goods warehouse and all finished board goods, with an estimated asset value of approximately 50 million yuan [1][3] - The main bank account of Huiyin Wood Industry has been frozen, with approximately 800,000 yuan in funds [4] - The lawsuits involve three plaintiffs claiming a total of 40.7 million yuan in principal and interest from Huiyin Wood Industry and its shareholders [3][5] Group 2: Financial Performance - In 2023, ST Jinggu acquired a 51% stake in Huiyin Wood Industry for about 270 million yuan, resulting in an 83.7% appreciation and goodwill of 92 million yuan [2] - Huiyin Wood Industry's performance has deteriorated, with a net profit of 4.7 million yuan in 2023 but failing to meet performance commitments in 2024 [5][6] - The actual revenue for 2024 was 389 million yuan, with a net loss of 32 million yuan, significantly deviating from the forecasted revenue of 564 million yuan and net profit of 58 million yuan [5][6] Group 3: Market Conditions - The competitive landscape in the particle board and fiberboard industry has changed significantly, leading to price declines as companies reduce prices to capture market share [6] - The company attributes the substantial drop in profitability to industry-wide price transmission effects and increased competition [6]

Core Viewpoint - The company is currently involved in multiple lawsuits concerning financial disputes, with a total amount of approximately 40.7 million RMB in principal and interest at stake, which may impact its financial performance depending on the court's ruling [2][9]. Summary by Sections Lawsuit Status - The court has accepted the case, but hearings have not yet commenced [2]. - The company’s subsidiary, Tangxian Huiyin Wood Industry Co., Ltd., along with its former controlling shareholders, are defendants in the lawsuits [2]. Financial Implications - The total amount involved in the lawsuits includes a principal of 40.7 million RMB and associated interest [2]. - The company’s assets, including a finished goods warehouse valued at approximately 50 million RMB and bank accounts with around 800,000 RMB, have been frozen as part of the legal proceedings [2][8]. Details of the Lawsuits - Three separate cases have been filed against the company: 1. Case (2025) Ji 0636 Minchu 1696: Plaintiff Wang Sanquan claims a loan of 37.2 million RMB plus interest at an annual rate of 13.8% [3][4]. 2. Case (2025) Ji 0636 Minchu 1697: Plaintiff Wang Dongxian claims a loan of 1.5 million RMB plus interest at an annual rate of 13.8% [5][6]. 3. Case (2025) Ji 0636 Minchu 1698: Plaintiff Wang Xinwang claims a loan of 2 million RMB plus interest at an annual rate of 12% [7][8]. Company Response - The company has established a special task force to address the lawsuits, including members from intermediary institutions and legal counsel to protect its and shareholders' rights [10]. - The company will continue to monitor the situation and fulfill its information disclosure obligations as required [11].

Core Viewpoint - Liu Xiaoqing Jewelry (Ningbo) Co., Ltd. is involved in a legal dispute regarding a loan of over 449,000 yuan, linked to allegations of tax evasion and fraudulent invoicing [1][3] Group 1 - Liu Xiaoqing has been reported for tax evasion involving 3.3 million yuan, allegedly converting a loan into personal income through a small enterprise [1][2] - The Shanghai tax authority has initiated an investigation into the allegations made by Wang, who claims that Liu Xiaoqing issued invoices to evade over 27% personal income tax [1][3] - Liu Xiaoqing publicly denied knowing Wang and stated that the allegations are false and malicious, expressing willingness to cooperate with tax authorities [2][3] Group 2 - Wang has indicated that the tax evasion amount may exceed 3.3 million yuan and plans to pursue legal action regarding the execution of the case [3] - The Shenzhen Futian District People's Court has served legal documents related to the case to Liu Xiaoqing and associated parties, with a hearing scheduled for September 12 [3]

Summary of Key Points Core Viewpoint - The announcement details the ongoing litigation involving New Dazhou Holdings Co., Ltd. and the implications of a recent ruling by the Supreme People's Court of China regarding a loan dispute with Cai Laiyin, which has led to the freezing of certain assets and a potential sale of shares to settle debts [2][3]. Group 1: Litigation Overview - New Dazhou disclosed the lawsuit initiated by Cai Laiyin against multiple parties, including New Dazhou, in October 2019, related to a loan dispute [2]. - The Guangdong High People's Court ruled that New Dazhou is liable for half of the unpaid loan principal and interest owed to Cai Laiyin [2]. - As a result of the litigation, several bank accounts and equity interests of New Dazhou have been frozen, including profits from its stake in Inner Mongolia Yakeshi Wujiu Coal Group Co., Ltd. [2]. Group 2: Recent Developments - On June 6, 2025, New Dazhou received a civil ruling from the Supreme People's Court, which accepted its application for retrial regarding the previous judgment [3]. - The ruling includes a suspension of the execution of the original judgment, which had ordered the auction of New Dazhou's 44.918% stake in Wujiu Group to satisfy the debt [5]. - The company continues to accrue interest based on the original judgment while awaiting the outcome of the retrial [5]. Group 3: Impact on the Company - The suspension of the original judgment's execution may provide temporary relief for New Dazhou, but the final outcome of the retrial remains uncertain [5]. - The board of directors will monitor the situation closely and fulfill disclosure obligations as required by law [5].

Core Viewpoint - The recent tax evasion allegations against Liu Xiaoqing have sparked significant public interest, with Liu denying the accusations and asserting that the claims are malicious and unfounded [1][3][5]. Group 1: Allegations and Responses - Liu Xiaoqing publicly denied the tax evasion allegations, stating that the court has confirmed she is not related to the loan mentioned by the accuser, Wang [1][7]. - Wang claims that he was informed by Liu's business partner about financial troubles within Liu's jewelry company, which led to a loan agreement [1][9]. - Liu emphasized her commitment to lawful tax payment and expressed willingness to cooperate with tax authorities for verification [5][7]. Group 2: Legal Proceedings - Wang has initiated legal action against Liu's jewelry company for loan repayment, with a court ruling in his favor regarding the loan of 3 million yuan [9][12]. - The court has also ordered Liu's jewelry company to cease using her name and likeness in its branding and marketing, along with compensating her for damages [14]. - Recent reports indicate ongoing investigations by the Shanghai tax authority into the allegations made by Wang against Liu and her associated enterprises [16][18].