Xian Civil Air Defense Office sued st Jinhua

 Xian Civil Air Defense Office sued st Jinhua

According to the above litigation documents, on December 13, 1996, Zhonggulou square construction headquarters office and St Jinhua, the defendant, signed a joint investment contract. According to the contract, both parties will jointly invest in the construction of Xian Bell and Drum Tower Square. After the completion of the project, a total of 219 million yuan of civil air defense assets will be formed. Among them, St Jinhua accounted for 80%, and Zhonggulou square construction headquarters office accounted for 20%. The contract also stipulates that the Construction Headquarters Office of Bell and Drum Tower Square will transfer 20% of the property right and five-year fixed income right of Xian Bell and Drum Tower Square to st Jinhua with 70.230.8 million yuan.

On December 25, 2007, after the final settlement, the Construction Headquarters Office of Zhonggulou square signed an agreement with ST Jinhua, and both parties reached a final plan on the balance of principal and interest, overdue fine and repayment period.

To sum up, the defendants behavior seriously infringed on the legitimate rights and interests of the plaintiff. Therefore, the plaintiff sued st Jinhua and put forward relevant demands: the defendant was ordered to pay the plaintiff the principal of 21.1947 million yuan, the interest of 26.4933 million yuan, and the overdue fine of 6.3584 million yuan, a total of 54.0464 million yuan (the interest rate is 10% per year, and the monthly interest rate of overdue fine is 2 u2030, which is temporarily calculated from April 1, 2008 to September 30, 2020 The costs of litigation, preservation and insurance shall be borne by the defendant.

For the lawsuit with Xian civil air defense office, St Jinhua announced that the lawsuit had not yet been heard, and the companys basic account opened in South Street Branch of China Construction Bank has been preserved by the court litigation property. As of the date of this announcement, the balance of the account was 2534700 yuan, accounting for 0.86% of the companys latest audited Monetary Fund (December 31, 2019) The frozen items have not had a material impact on the companys business.

In the business activities of listed companies, litigation and arbitration often occur. Whether the listed company is the plaintiff or the defendant, it will bring some potential rights or obligations to the company, and have an impact on the current or future performance and development of the company. Therefore, investors should pay attention to these major litigation or arbitration matters that may have a greater impact on the stock price of listed companies. Zhu Changjiang, partner lawyer of Shaanxi Fengrui law firm, said in an interview with Securities Daily.

St Jinhua has been in constant trouble recently. St Jinhua joined the group of wearing hats due to the illegal occupation of capital by major shareholders. Wu Yijian, the former chairman of the board of directors who had been in charge of the company for 24 years, resigned a few months ago. In addition, the companys new shareholder Xing boyue and his people acting in concert recently increased their holdings through the secondary market and were also inquired by the exchange. Up to now, St Jinhua has delayed answering questions for three times.

Source: Securities Daily editor: Yang Qian_ NF4425