Zhongli Group subsidiary ordered to pay in litigation ruling

Jiangsu Zhongli Group Co., Ltd. (Zhongli Group) has disclosed that its subsidiary received a civil judgment from the Wuchang District People's Court. The ruling orders the subsidiary to pay Qingdao Lvhe New Energy Management Co., Ltd. a total of 16,530,708.96 yuan within ten days of the judgment's effective date. This sum covers relevant amounts, attorney fees, and litigation costs.

The case involved Qingdao Lvhe New Energy Management Co., Ltd. as the plaintiff, Zhongli's subsidiary as defendant one, and another entity as defendant two. Notably, defendant two has been absolved of any responsibility and is not required to make any payments based on this judgment.

Additionally, Zhongli's subsidiary is liable for a portion of the case acceptance fee, amounting to 157,074 yuan out of a total 191,713 yuan, with the plaintiff bearing 34,639 yuan. The company highlighted that the specific impact on its current and future profits will be determined by the final audit results. Investors are advised to exercise caution and engage in rational investment decisions.