CCOOP subsidiary wins lawsuit, boosting profit by 99m yuan

CCOOP Group announced that its controlling subsidiary, Shandong HNA Commercial Development Co., Ltd., has received a final judgment from the Hainan Provincial Higher People's Court in a major lawsuit. The ruling upholds the original judgment, dismissing appeals from both parties. This final judgment is effective as of its disclosure date.

The lawsuit involved Western Trust Co., Ltd. seeking confirmation of claims totaling 3,677,985,344.98 yuan against Shandong HNA Commercial. The final ruling indicates a projected increase in CCOOP Group's overall profit by approximately 99,004,200.00 yuan. This amount will be recognized in the company's financial reports following an audit by an accounting firm, adhering to relevant accounting standards.

The company had previously made provisions for potential guarantee liabilities, and related claims were handled during the HNA Group's reorganization process. This final resolution confirms that the guarantee-related losses have been addressed within the restructuring framework.