LNGF: Due to a financial loan contract dispute, the amount involved is 282 million yuan

On February 24th, Jinshi Data reported that LNGF announced it recently received the "Arbitration Notice" from the Dongguan branch of the Guangzhou Arbitration Commission. Due to a financial loan contract dispute, Dongguan Bank Co., Ltd. Dongguan Branch filed an arbitration application with the Guangzhou Arbitration Commission Dongguan Branch. As of October 23, 2024, the applicant, Dongguan Bank Dongguan Branch, claims that the respondent, LNGF, should repay the loan principal of RMB 270 million along with interest, penalty interest, and compound interest. The interest calculated up to October 23, 2024, amounts to RMB 3.3847 million, penalty interest to RMB 7.8942 million, and compound interest to RMB 276,900, along with the applicant's legal fees of RMB 520,000 incurred to realize the claim, totaling RMB 2.82 billion. The company disclosed the "Announcement on the Overdue Debts of the Company" on August 22, 2024. As of August 21, 2024, the overdue amount from Dongguan Bank Dongguan Branch was RMB 70 million. The company disclosed the "Announcement on the Overdue Debts of the Company" on February 25, 2025. As of February 21, 2025, the overdue amount from Dongguan Bank Dongguan Branch was RMB 200 million