China Qidian Guofeng Subsidiary Wins Appeal, Litigation Risks Eliminated
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China Qidian Guofeng Holdings Ltd. announced that its subsidiary won an appeal in a legal case, with the Jiangsu Yangzhou Intermediate People’s Court ruling in favor of the company. The court dismissed claims from Nanjing Haihuitong against Yangzhou Huiyin Commercial Chain, Laitai Trading, and Anhui Four Seas. As a result, an asset preservation order restricting equity disposal in Anhui Four Seas is expected to be revoked. The company will monitor the proceedings for formal revocation.
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