WLGF: Received a civil lawsuit with an amount involved of 10.17 million yuan

WLGF announced that the company recently received legal documents including a "Civil Complaint" and "Court Summons" delivered by the People's Court of Zhifu District, Yantai City. The plaintiff, Song Lin, requests the court to order the company to bear 30% of the supplementary compensation liability to the plaintiff for the portion of the loan that the borrower, Shandong Longkou Brewing Co., Ltd., cannot repay under three "Working Capital Loan Contracts" at the Yantai Branch of Industrial Bank Co., Ltd., with a total amount involved of 10.17 million yuan. The company had engaged in illegal guarantees during the period from 2018 to 2019, involving a principal loan amount of 251 million yuan, and in 2021, it assumed compensation liability based on the effective judgment of the court. The previously unlitigated illegal guarantees have been brought to court, and this case has not yet been heard; the final actual impact will be subject to the trial results