Huiyuan Communications faces arbitration ruling over equity transfer dispute

Sichuan Huiyuan Optical Communications (SZSE:000586) disclosed that it has received an arbitration award related to a dispute with shareholder Guangzhou Huifu Qiji Investment Partnership and Mingjun Group Technology Co. The Chengdu Arbitration Commission ruled in favor of the applicant, Liu Zhongyi, ordering Guangzhou Huifu Qiji to pay RMB 400,235,718 for losses incurred due to failure to deliver agreed-upon assets, plus overdue payment compensation calculated from May 23, 2023. Mingjun Group Technology is jointly liable for the debt. Additionally, both firms must jointly bear a portion of the arbitration and property preservation fees totaling RMB 1,054,412. The arbitration outcome is not expected to affect Huiyuan Communications' daily operations, and the company will continue to monitor the situation.