Philisense Tech faces CNY 14.42m in new lawsuits

Beijing Philisense Technology (SZSE:300287) announced that its subsidiaries face cumulative new lawsuits and arbitrations amounting to CNY 14,419,950.00 as of December 2024. This represents 12.32% of the company's audited net assets for the year. The cases include contract disputes involving Shanghai Jiedong System Engineering Control Co., Ltd, Zhejiang Jintang Engineering Construction Co., Ltd., and Beijing (Haidian) Big Data Advanced Technology Research Institute. The company stated the financial impact of these pending legal matters is currently uncertain, but it will actively monitor the cases and fulfill disclosure obligations, protecting the interests of the company and its shareholders. The board advises investors to be aware of investment risks.