Hangcha Group subsidiary faces shareholder dispute after acquisition

Hangcha Group Co., Ltd. announced that its controlling subsidiary, Zhejiang Hangcha Guozhi Intelligent Technology Robot Co., Ltd., acquired 99.23% equity in Zhejiang Guozhi Robot Technology Co., Ltd. through a capital increase and share expansion. Following this transaction, Hangcha Guozhi’s ownership in the target company changed from 81% to 44.28%, maintaining its controlling shareholder status. The transaction was disclosed on July 8, 2025, and has since completed industrial and commercial registration.

However, Zhejiang Chuangrui Investment Consulting Co., Ltd. has filed a lawsuit against the target company’s original shareholders and former directors, including Hangzhou Juxing Technology Co., Ltd. and Hangzhou Kunxia Investment Management Partnership (Limited Partnership), alleging "damages for infringement of shareholder interests." The plaintiff seeks the return of 3,701,376 shares from the target company and claims joint and several liability for damages totaling CNY 158,545,900. The case was accepted on February 5, 2025, and the first hearing took place on June 16, 2025, with no judgment rendered as of the announcement date.

Hangcha Group confirmed that neither the company nor its subsidiaries are parties to the lawsuit, and it anticipates no adverse impact on daily operations. The company's actual controller, Qiu Jianping, has committed to full compensation for any losses incurred by Hangcha Guozhi or its shareholders resulting from undisclosed disputes or the lawsuit's outcome.