Hybribio Biotech faces 102 lawsuits over unpaid receivables

Guangdong Hybribio Biotech Co., Ltd. (Hybribio Biotech) has announced that its cumulative litigation and arbitration cases, including those involving its consolidated subsidiaries, have reached 102 cases over the past twelve months. These cases predominantly stem from unpaid goods or testing service fees by local health commissions or public medical institutions between 2020 and 2022. The total amount involved across all cases is yuan 415,863,800, representing 10.12% of the company's net assets attributable to shareholders as per its latest audited figures.

Of the 102 cases, Hybribio Biotech and its subsidiaries are plaintiffs or applicants in 69 cases, with a combined value of yuan 357,168,100, accounting for 85.89% of the total involved amount. The remaining 33 cases involve the company and its subsidiaries as defendants or respondents, with a total value of yuan 58,695,700, making up 14.11% of the total. The company emphasizes its proactive approach to debt recovery through legal channels to protect its interests and enhance cash flow.

As of the disclosure date, there are no single litigation or arbitration cases with an involved amount exceeding 10% of the company's latest audited net assets and an absolute value greater than yuan 10,000,000. While some cases are still pending trial or resolution, Hybribio Biotech acknowledges the uncertainty regarding their impact on current and future profits, with final financial effects to be determined by the annual audit. Investors are advised to consider the investment risks associated with these ongoing legal matters.