Taiji Industry faces significant new litigation amid share buyback completion

Wuxi Taiji Industry announced a significant arbitration matter involving its subsidiary, Eleventh Technology, with a claim amount of 22,210 million yuan, as part of accumulated litigation and arbitration totaling 105,656.66 million yuan. This represents 12.42% of the company's net assets from its latest audited period. The new arbitration, filed by Baotou Musheng Solar Energy Technology Co., Ltd. through the Shanghai International Economic and Trade Arbitration Commission, alleges construction contract disputes related to a 100MW power generation project.

Separately, Wuxi Taiji Industry completed its share repurchase program, buying back 14,648,000 shares, representing 0.70% of its total share capital, for a total of 10,001.79 million yuan. The repurchased shares will be cancelled to reduce registered capital, with the deregistration process scheduled for September 18, 2025. The company stated the buyback will not adversely affect its operations, financials, or listing status.

The company will closely monitor the progress of these legal cases, as their impact on current or future period profits remains uncertain. Wuxi Taiji Industry will process accounting entries based on the cases' developments and legal frameworks.