CECEP Environmental Protection reports partial bank account freezing

CECEP Environmental Protection Equipment Company announced that two of its bank accounts have been frozen, totaling 247,278.3 yuan. This action follows a lawsuit filed by Guangdong Ruima Heat Energy Equipment Manufacturing Co., Ltd. against CECEP (Tangshan) Environmental Protection Equipment Co., Ltd. for outstanding payments of 14,440,717.90 yuan, with CECEP Environmental Protection named as a guarantor.

As a result, CECEP Environmental Protection's frozen account balance, including its subsidiaries, amounts to 32.4788 million yuan. This represents 1.73% of its total monetary assets and 0.24% of its net assets attributable to shareholders as of the last audited period. The company states that this amount is relatively small and will not significantly impact its daily operations.

The company plans to actively address the account freezing and protect its legal rights, while adhering to information disclosure requirements. As the lawsuit has not yet gone to trial, the final outcome remains uncertain, and investors are advised to consider the potential risks.