Chow Tai Seng Jewellery wins appeal, minimizes impact of contract dispute

Chow Tai Seng Jewellery Co., Ltd. announced the outcome of a significant contract dispute, revealing that the Guangdong Shenzhen Intermediate People’s Court upheld the initial ruling, dismissing the appeal by the plaintiff, Shenzhen Shuibei Card Information Technology Co., Ltd. The second-instance civil judgment, issued on October 20, 2025, confirmed that Chow Tai Seng Jewellery is liable to pay yuan 2,780,000 to Shuibei Card, which will be offset by an existing yuan 2,780,000 in earnest money. The plaintiff’s other claims, initially totaling yuan 210,746,938.29, were rejected.

The ruling is a final judgment, effectively concluding the litigation which had previously resulted in the freezing of some of Chow Tai Seng Jewellery’s bank accounts. The company had already provisioned for the yuan 2,780,000 as bad debt, meaning the outcome will not impact its current or future period profits. The frozen bank accounts are expected to be unfrozen following standard legal procedures.

This decision marks a favorable resolution for Chow Tai Seng Jewellery, mitigating the potential financial exposure from the lawsuit. The yuan 393,044.90 second-instance case acceptance fee will be borne by Shenzhen Shuibei Card Information Technology Co., Ltd.