Lomon billions subsidiary secures trade secret conviction

Lomon Billions Group's subsidiary, Yunnan Metallurgical Xinsu Titanium Co., Ltd., has received a criminal judgment from the Chuxiong Yi Autonomous Prefecture Intermediate People's Court regarding the infringement of its trade secrets. Three individuals, Liu Jianliang, Zhao Zequan, and Jiang Shuan, were found guilty of infringing trade secrets related to the "large-scale chlorinated titanium dioxide production process technology" acquired from Germany's Tronox GmbH. This technology was introduced by Yunnan Xinsu in June 2007 with an investment of $20 million.

The court sentenced Liu Jianliang to seven years in prison and a fine of 12 million yuan. Zhao Zequan also received a seven-year prison sentence and a fine of 10 million yuan, while Jiang Shuan was sentenced to six years and a fine of 10 million yuan. The court also ordered the recovery of illegal gains, with 22,320,506.42 yuan already remitted by the defendants. Further recovery of 972,020 yuan from Zhao Zequan and 3,707,473.58 yuan from Jiang Shuan was also ordered.

The company stated that the criminal judgment is a first-instance ruling, and the final outcome and subsequent enforcement remain uncertain. Lomon Billions Group is also pursuing civil liabilities against the involved parties, with related civil litigation cases accepted by the Yunnan Provincial High People's Court. The company will continue to monitor the case and provide updates as required.