ST JiaoTou's subsidiary HongYao Company has been listed as a person subject to enforcement for dishonesty

Zhitong
2025.01.23 13:28
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ST YCIC Eco-Tech's subsidiary Yunnan Hongyao Company has been listed as a dishonest executor by the People's Court of ChuanShan District, Suining City, Sichuan Province, due to involvement in a construction contract dispute, with a dishonesty period of 2 years. Hongyao Company is required to pay outstanding debts and interest to Yunnan Linhua Construction Engineering Co., Ltd. The court has concluded the enforcement procedure due to the failure to fulfill relevant obligations. This situation will affect Hongyao Company's activities in government procurement, bidding, and tendering. The company has urged Hongyao Company to communicate with relevant parties to resolve the issue

According to the Zhitong Finance APP, ST Jiaotou (002200.SZ) announced that its controlling subsidiary, Yunnan Hongyao Landscaping Engineering Co., Ltd. (referred to as "Hongyao Company"), received a "Dishonesty Decision Letter" issued by the People's Court of Chuan Shan District, Suining City, Sichuan Province on January 22, 2025. Hongyao Company has been listed as a dishonest executor by the People's Court of Chuan Shan District, Suining City, Sichuan Province.

Due to a dispute involving a "Construction Engineering Contract," Hongyao Company was sued by Yunnan Linhua Construction Engineering Co., Ltd. According to the relevant court judgment, Hongyao Company is required to pay the outstanding amounts and interest to Yunnan Linhua Construction Engineering Co., Ltd. After the judgment took effect, as Hongyao Company failed to fulfill its obligations, Yunnan Linhua Construction Engineering Co., Ltd. applied to the court for compulsory enforcement. Since no other executable assets were found, the People's Court of Chuan Shan District, Suining City, Sichuan Province legally ruled to terminate this enforcement procedure. During the enforcement process, due to Hongyao Company's circumstances related to the "Several Provisions of the Supreme People's Court on the Publication of Information on Dishonest Executors," in accordance with Article 266 of the Civil Procedure Law of the People's Republic of China and Item 4 of Article 1 of the "Several Provisions of the Supreme People's Court on the Publication of Information on Dishonest Executors," the People's Court of Chuan Shan District, Suining City, Sichuan Province included Hongyao Company in the list of dishonest executors, with a dishonesty period of 2 years. The situation of the company's controlling subsidiary, Hongyao Company, being listed as a dishonest executor will have a certain impact on Hongyao Company's government procurement, bidding, qualification certification, and other aspects. The company has urged Hongyao Company to communicate with all relevant parties to strive for a prompt and proper resolution of the aforementioned dishonest executor case

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