Core Viewpoint - The lawsuit filed by Zhuhai Titan New Power Electronics Co., Ltd. against Hanchuan Intelligent and Mianyang High-tech Exson New Energy Technology Co., Ltd. involves a payment dispute over an equipment procurement contract, with a total claim exceeding 29.23 million yuan [2][3]. Group 1: Lawsuit Details - The plaintiff, Titan New Power, is seeking immediate payment of 27.8 million yuan in overdue payments and interest, along with additional legal fees and costs, bringing the total claim to over 29.23 million yuan [2]. - The equipment procurement contract, signed on January 6, 2023, had a total value of 78 million yuan, with Titan New Power claiming that it has fulfilled its obligations while Hanchuan Intelligent and Mianyang Exson have failed to make payments [2]. Group 2: Hanchuan Intelligent's Defense - Hanchuan Intelligent argues that a tripartite payment agreement was signed, which stipulates that Mianyang Exson is responsible for paying the remaining amount of 31.2 million yuan, and thus Titan New Power has no right to demand payment from Hanchuan Intelligent [3]. - Hanchuan Intelligent has previously filed a lawsuit against Mianyang Exson, resulting in a mediation agreement where Mianyang Exson agreed to offset payments, but if upstream suppliers claim rights, the offset would be invalid [3]. Group 3: Financial Impact - Titan New Power has applied for the preservation of Hanchuan Intelligent's bank deposits amounting to 29.23 million yuan, with the court freezing a total of approximately 3.08 million yuan from two bank accounts [4]. - As of the announcement date, Hanchuan Intelligent's frozen bank funds total approximately 57.18 million yuan, representing 8.79% of the company's audited net assets for 2024 and 31.40% of its cash funds [4].

Core Viewpoint - Suzhou Hanchuan Intelligent Technology Co., Ltd. is facing a lawsuit from Zhuhai Titan New Power Electronics Co., Ltd. over a payment dispute related to a contract for equipment procurement, with a total claim of approximately 27.8 million yuan in unpaid amounts and associated costs [1][2]. Group 1: Lawsuit Details - The lawsuit stems from a contract signed on January 6, 2023, where Hanchuan Intelligent agreed to purchase a system for a total price of 78 million yuan, but has failed to pay the remaining 27.8 million yuan [1]. - Titan New Power is demanding Hanchuan Intelligent and Mianyang High-tech Exson New Energy Technology Co., Ltd. to pay the outstanding amount along with overdue interest and legal fees [1][2]. Group 2: Payment Agreement and Current Status - A tripartite payment agreement was signed, stating that Mianyang Exson is responsible for paying the remaining amount to Titan New Power, and any disputes regarding payment do not involve Hanchuan Intelligent [2]. - Mianyang Exson has made a partial payment of approximately 7.13 million yuan, with a remaining balance of about 20.22 million yuan [2]. Group 3: Financial Impact and Company Response - The lawsuit's impact on Hanchuan Intelligent's profits is currently uncertain, pending the court's final judgment [3]. - The plaintiff has applied for the preservation of Hanchuan Intelligent's bank deposits amounting to approximately 29.24 million yuan, leading to the freezing of accounts totaling about 3.08 million yuan, which represents significant percentages of the company's net assets and cash [3]. - The company is maintaining stable operations and has communicated the situation to Mianyang Exson, preparing to submit relevant materials to the court [3].