Lingyuan Steel lawsuit dismissed, court flags criminal suspicion

Lingyuan Iron & Steel Company Limited announced that the Lingyuan City People's Court has issued a civil ruling dismissing its lawsuit against Jiangsu Bank Co., Ltd. Shenzhen Branch. The lawsuit, filed on January 9, 2024, sought to recover economic losses of 49,558,237.43 yuan, plus interest and fees, related to a contract dispute concerning bank acceptance bills.

The court's decision, dated November 5, 2025, stated that the case appears to involve suspected economic crimes rather than a civil dispute. Forensic examination of ten bank acceptance bills revealed inconsistencies in endorsement stamps, leading the court to dismiss the civil complaint and refer the matter to public security or procuratorial organs for handling.

The company clarified that the ruling to dismiss the lawsuit, which did not address the substantive content of the claim, will not negatively impact its daily operations or its current and future financial performance. Lingyuan Iron & Steel intends to actively pursue the case's progression and fulfill its information disclosure obligations.