Shaanxi Construction faces CNY 302m in new lawsuits

Shaanxi Construction Engineering Group Co., Ltd. (SSE:600248) announced that it and its subsidiaries are currently involved in 76 legal cases, the majority of which are still under review or pending trial. Of these, 37 cases list the company as the plaintiff or applicant, involving a total of CNY 201.1 million. Conversely, 39 cases name the company as the defendant or respondent, amounting to CNY 100.9 million. The aggregate amount involved in these new legal proceedings totals CNY 302 million. The company stated that these lawsuits primarily involve the recovery of outstanding project payments and disputes arising from normal business operations. The potential impact on the company's current and future profits remains uncertain. The company will continue to monitor and disclose relevant information as required.