LFBC's subsidiary involved in a lawsuit of 11.23 million, outcome still uncertain

Recently, Jiangsu LFBC Biochemical Co., Ltd. announced that its holding subsidiary Anhui Xuhe New Energy Technology Co., Ltd. is involved as a defendant in a lawsuit. The plaintiff, Jiangsu Yuhui Sunshine New Energy Co., Ltd., claims that Xuhe Technology failed to deliver some products on time and is demanding the return of the unutilized advance payment, delivery fees, and penalties for breach of contract, with the amount in question reaching 11,233,209.17 yuan. The court has accepted the case, but a hearing has not yet been scheduled. The impact of this lawsuit on the company's current and future profits remains uncertain. As of the announcement date, the company and its holding subsidiary have no other significant litigation or arbitration matters that should be disclosed but have not been disclosed. Xuhe Technology will take measures to protect the rights and interests of the company and its shareholders and will disclose progress in a timely manner