Chongqing beer was sued by Chongqing Jiawei: accused of occupying the market share of mountain city beer

category:Finance
 Chongqing beer was sued by Chongqing Jiawei: accused of occupying the market share of mountain city beer


Chongqing Jiawei, the plaintiff, said that in 2009, the plaintiff signed a 20-year exclusive sales agreement with the listed company, stipulating that only the plaintiff was allowed to produce Shancheng brand beer during the underwriting period, and all the beer produced should be sold by the listed company. However, since 2011, the listed companies have many default behaviors, which squeeze the market share of Shancheng beer and damage the interests of the plaintiff. From 2015 to 2016, the plaintiff and the defendant successively signed the supplementary agreement to the product underwriting framework agreement, the product underwriting memorandum, several monthly communication meeting minutes and other documents. The plaintiff conditionally agreed not to investigate the liability for breach of contract of the listed company before, and made a concession. However, since 2017, the listed companies and their subsidiaries have continued to expand related party transactions with Carlsberg beer (Guangdong) Co., Ltd. and Carlsberg (China) beer industry and Trade Co., Ltd., damaging the interests of the plaintiff.

The plaintiff believes that since 2017, listed companies have expanded related party transactions, which has damaged the interests of the plaintiff. The plaintiff, Chongqing Jiawei, sued the defendant for the contract dispute, and the amount of litigation claim is RMB 639 million and litigation costs.

In the announcement, Chongqing Brewery said that the company has fulfilled its responsibilities and obligations in accordance with the underwriting agreement and other agreements involved in the case; the company will actively prepare to respond to the lawsuit, claim the companys rights and effectively safeguard its legitimate rights and interests. Accordingly, the company does not expect that the announced litigation will have a significant adverse impact on the current and future profits of the company; however, as the case has not yet been heard, the company can not accurately determine the specific impact. Chongqing Beer Co., Ltd., founded in 1958, is one of the top ten beer companies in China and was listed on the Shanghai Stock Exchange in 1997, according to the official website of Chongqing beer. At the end of 2013, Carlsberg group, the worlds third largest brewer, accounted for 60% of the shares in Chongqing beer, becoming an absolute controlling shareholder, and Chongqing Beer Group officially became a member of Carlsberg group. At present, Chongqing Beer Co., Ltd. has 14 production bases, which are distributed in Chongqing, Sichuan, Hunan and other places, mainly producing Chongqing, Shancheng, Jasper and Lebao series beer. Source: surging news editor: Zhong Qiming_ NF5619

In the announcement, Chongqing Brewery said that the company has fulfilled its responsibilities and obligations in accordance with the underwriting agreement and other agreements involved in the case; the company will actively prepare to respond to the lawsuit, claim the companys rights and effectively safeguard its legitimate rights and interests. Accordingly, the company does not expect that the announced litigation will have a significant adverse impact on the current and future profits of the company; however, as the case has not yet been heard, the company can not accurately determine the specific impact.