Electric connector tech unit faces CNY 46.27m arbitration claim

Electric Connector Technology (SZSE:300679) announced that its wholly-owned subsidiary, Hefei Electric Connector, has received a notice of arbitration from the Hefei Arbitration Commission. The claimant, China Construction Group, is seeking approximately CNY 46.27 million in allegedly unpaid construction fees, compensation for work stoppage losses, and overdue interest related to the Hefei Electric Connector industrial base project. China Construction Group also wants the arbitration commission to confirm that, to the extent of the aforementioned construction amounts, it has a priority right to compensation from the proceeds of the Hefei Electric Connector industrial base project if the land is repossessed or auctioned. The case has been accepted but has not yet been heard, creating uncertainty regarding the impact on the company's profits for the current or subsequent periods.