Gold Mantis reports 1.47 bn yuan in cumulative litigation and arbitration

Suzhou Gold Mantis Construction Decoration Co., Ltd. announced cumulative litigation and arbitration matters totaling 1.467 billion yuan over the past twelve months. This figure represents 10.78% of the company's latest audited net assets. Of the total, cases where the company and its subsidiaries are plaintiffs amount to 1.098 billion yuan, while cases where they are defendants total 369 million yuan.

The company stated that none of the individual litigation or arbitration cases over the past twelve months exceeded 10% of its latest audited net assets or 10 million yuan. Most of the cases where Gold Mantis is the plaintiff involve demands for payment of outstanding engineering fees from trading partners.

Gold Mantis emphasized that it is actively taking legal measures to protect its interests and improve asset quality and financial performance by streamlining litigation processes and enhancing debt recovery efforts. The company noted that the impact of these ongoing cases on current or future profits cannot yet be determined and will be accounted for according to accounting standards.