Plaintiff withdraws lawsuit against China Kings Resources

China Kings Resources Group Co., Ltd. (SSE:603505) announced that Guangzhou Tianci High-tech Materials Co., Ltd. and Jiujiang Tianci High-tech Materials Co., Ltd. withdrew their lawsuit alleging infringement of trade secrets against the company and its subsidiary, Jiangshan Jinshi New Material Technology Co., Ltd. The Hangzhou Intermediate People's Court of Zhejiang Province has approved the withdrawal. The original lawsuit sought damages of CNY 90 million and legal fees of CNY 802,000. With the court's approval of the withdrawal, the litigation is not expected to have a negative impact on the company's current or future profits.