AsiaPhos Former Unit Ordered to Pay 3 Million Yuan in Legal Dispute
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AsiaPhos' former subsidiary, Sichuan Mianzhu Norwest Phosphate Chemical, has been ordered by a Chinese court to pay 3 million yuan in compensation to Huili Jiahong Chemical, plus a court fee of 30,840 yuan. The ruling from the Deyang Intermediate People's Court is final, and the subsidiary plans to make the payment while considering a retrial. AsiaPhos has already recognized a 3 million yuan impairment loss for fiscal 2024.
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