Lingnan Eco&Culture-Tourism discloses accumulated litigation

LingNan Eco&Culture-Tourism (SZSE:002717) has announced that the cumulative amount involved in new, previously undisclosed litigation and arbitration cases over the past twelve months totals approximately 281.65 million RMB (roughly $40 million USD), representing 13.38% of the company's latest audited net assets attributable to the parent company. The announcement detailed four major cases, including disputes with Dongguan Bank, Jiangsu Bank, Anhui Wendu Municipal Engineering Co., and Jiangsu Kangzheng Construction Technology Group. In addition, the company reported 37 other minor cases. LingNan Eco&Culture-Tourism notes that the impact of these proceedings on current and future profits remains uncertain, and the company will account for them appropriately, fulfilling its disclosure obligations.