---
title: "Tianjin TEDA CO., Ltd.'s subsidiary is involved in a contract lawsuit worth 529 million yuan. The company responded: It is still unclear how the judgment will be made"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/224279501.md"
description: "On the evening of January 7th, Tianjin TEDA CO., Ltd. announced that its secondary subsidiary, Yangzhou TEDA Development, was sued by Yangzhou Jinfeng Real Estate due to a dispute over a commissioned construction contract, with the amount involved being approximately 529 million yuan. A reporter called Tianjin TEDA CO., Ltd. as an investor to inquire about the payment responsibilities of the company and Yangzhou TEDA Development in this dispute. Tianjin TEDA CO., Ltd. stated, \"In 2020, the government issued a 'Letter of Commitment' stating that they would pay the unpaid project funds and interest, so theoretically, the government owes money to Jinfeng Real Estate, but it has not been repaid. This case has been accepted, but the court hearing has not yet taken place, so it is still unclear how it will be judged.\""
datetime: "2025-01-08T06:41:04.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/224279501.md)
  - [en](https://longbridge.com/en/news/224279501.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/224279501.md)
---

# Tianjin TEDA CO., Ltd.'s subsidiary is involved in a contract lawsuit worth 529 million yuan. The company responded: It is still unclear how the judgment will be made

On January 8th, Jinshi Data reported that Tianjin TEDA CO., Ltd. announced on the evening of January 7th that its secondary subsidiary Yangzhou TEDA Development was sued by Yangzhou Jinfeng Real Estate due to a dispute over a commissioned construction contract, involving an amount of approximately 529 million yuan. A reporter called Tianjin TEDA CO., Ltd. as an investor to inquire about the payment responsibilities of the company and Yangzhou TEDA Development in this dispute. Tianjin TEDA CO., Ltd. stated, "In 2020, the government issued a 'Letter of Commitment' stating that they would pay the unpaid project funds and interest, so theoretically, the government owes money to Jinfeng Real Estate, but it has not been repaid. This case has been accepted, but the court hearing has not yet started, so it is still unclear how it will be judged."

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