Hunan Silver wins appeal in major private loan dispute

Hunan Silver recently announced that the Chenzhou City Intermediate People's Court dismissed an appeal filed by Cao Yongde, upholding the original verdict in a significant private lending dispute. The case involved Cao Yongde's claim of a principal of yuan 50,000,000 and interest of yuan 6,000,000 from the company. Cao Yongde had made multiple transfers to the personal account of Cao Yeye, the company's cashier and Cao Yongde's sister, between June 2015 and July 2018, totaling yuan 50,000,000 by July 2, 2018.

The Intermediate People's Court found that the facts determined in the first-instance judgment were clear and the law was applied correctly, leading to the rejection of Cao Yongde's appeal. This decision is a final judgment, meaning the outcome will not affect Hunan Silver's current period profit. The company advises investors to exercise caution and pay attention to investment risks.

Further details regarding the case were previously disclosed in the company's announcements, including "Announcement on Receiving Civil Complaint" (Notice No.: 2024-077) on July 3, 2024. The company will continue to fulfill its information disclosure obligations in accordance with relevant regulations.