Phoenix Shipping wins RMB 60m lawsuit against Ping An

Phoenix Shipping (Wuhan) Co., Ltd. won a final victory in a RMB 60 million lawsuit brought by China Ping An Property Insurance Co., Ltd. Hubei Branch.

The Hubei Provincial Higher People's Court rejected the insurer's appeal on July 29, 2025, upholding the Wuhan Maritime Court's initial dismissal of all claims. Ping An must also pay RMB 341,800 in court fees.

Phoenix Shipping said the judgment's impact on profits remains uncertain pending execution and audit results.