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Bestway subsidiary's bank accounts unfrozen after contractual dispute

August 6, 2025 at 10:10 AM UTCBy FilingReader AI

Bestway Marine & Energy Technology's subsidiary Jiangsu Jinhaiyun Technology has had its bank accounts unfrozen after being restricted due to a contractual dispute with its former management team.

The freeze resulted from a property preservation application by the former team to a court in Jiangsu Province. Jinhaiyun provided a guarantee of 13.7m yuan to secure the unfreezing of its assets.

The released funds include accounts at China Bank Taizhou Branch and China Merchants Bank Taizhou Branch. The lawsuit remains ongoing.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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