EGing Photovoltaic faces substantial litigation, share auction looms

EGing Photovoltaic Technology (SSE:600537) is facing increased financial pressures as its subsidiaries are involved in new lawsuits totaling CNY 49,979,331.66. The legal actions involve contract disputes with companies like Changzhou Kelongwei Intelligent Technology, Jiangsu Suoyuan Electronic Technology, Anhui Hongye Renewable Resources, and Anhui Parker Packaging Materials. EGing received the notice from the People's Court of Quanxiao County of Anhui Province. The lawsuits are in varying stages, and the company is assessing the potential impact on its financial results.