Quantum Hi-Tech chairman involved in share transfer litigation

Quantum Hi-Tech (SZSE:300149) reports progress in a legal dispute involving its chairman, WOO SWEE LIAN, and controlling shareholder, Beihai Eight Capital Venture Co. The litigation, stemming from a loan agreement dispute, seeks the transfer of 30,033,098 shares of Quantum Hi-Tech, currently held by Beihai Eight Capital, to WOO SWEE LIAN. This action follows Beihai Eight Capital's failure to comply with a prior court-mediated settlement. The court is enforcing this agreement at a value calculated as 80% of the closing price the day before that agreement. While the company states the dispute doesn't impact operations, it will result in a change of control from owner, ZENG XIANJING.