Watertek wins final judgment in CNY 90m dispute

Beijing Watertek Information Technology (SZSE:300324) has announced a final favorable ruling in its lawsuit against Shenzhen Jingsheng New Materials and Guangwei Technology Group concerning a partnership property transfer dispute. The Beijing High People's Court has ruled in favor of Watertek after Guangwei Technology failed to pay the appeal case acceptance fee, effectively upholding the initial judgment. The dispute originated from a CNY 333.3 million partnership with Shenzhen Jingsheng, where Watertek invested CNY 100 million. Watertek will receive CNY 90 million in investment funds plus investment income calculated at an annual rate of 5% from February 4, 2021, until full payment, as well as default penalties. Guangwei Technology will bear the case acceptance fee of CNY 563,676.71. The court's decision should not have a significant impact on the company's financials.