Yinchuan Xinhua wins partial judgment in contract dispute

Yinchuan Xinhua Commercial Group (SSE: 600785) announced a favorable partial judgment in its lawsuit against Ningxia Great World Industry Group concerning unjust enrichment. The Yinchuan City JinFeng District People's Court ordered Ningxia Great World to return RMB 60,178,475 in undue gains to Yinchuan Xinhua and pay RMB 6,840,973.65 in interest, calculated up to December 4, 2023, plus ongoing interest calculated at the one-year loan prime rate (LPR) on the RMB 60,178,475 until the date of payment. Yinchuan Xinhua's other claims were rejected. The lawsuit arose from an unspecified business dispute. Xinhua Xinhua did not specify if it plans to appeal the decision. The impact on the company's current or future profits is yet to be determined.