Shandong Meichen faces CNY 30.37m arbitration claim

Shandong Meichen Ecology & Environment (SZSE:300237) announced that its wholly-owned subsidiary, Hangzhou Saishi Landscape Group, is facing an arbitration claim filed by Jiangsu Bank's Hangzhou branch with the Hangzhou Arbitration Commission. The claim, amounting to approximately CNY 30.37 million, stems from a financial loan contract dispute, with Saishi Landscape, Shandong Meichen, and Hangzhou Saishi Ecological Agriculture named as defendants. Jiangsu Bank is seeking repayment of principal, interest, penalties, and legal fees and has named three other applicants in the case. The arbitration case (No. (2025) Hang Zhong 02 Zi No. 375) has been accepted, though it's impact on Shandong Meichen Ecology & Environment's current and future profits remains uncertain. The company plans to actively engage with Jiangsu Bank to find a resolution and minimize potential adverse effects. The company also faces 5 other outstanding lawsuits and arbitrations amounting to CNY 6.03 Million.