DCWT's construction price dispute appeal was ruled to pay 100 million RMB in project funds and accrued interest

According to a report from Economic Information Agency on the 5th, DCWT (03768) announced that it has filed an appeal against the judgment of the Kunming Intermediate People's Court regarding the dispute over the settlement price of the construction contract for the water quality purification plant with Guizhou Construction. The appeal has received a civil judgment issued by the Yunnan Provincial High Court, which revoked the civil judgment issued by the Kunming Intermediate People's Court; the group is required to pay Guizhou Construction a project payment of RMB 103 million, accrued interest, and the other litigation requests from Guizhou Construction are dismissed, as well as the counterclaim from the group. The judgment made by the Yunnan Provincial High Court is a final judgment. The group stated that it had conducted accounting treatment in the previous year, and the judgment from the Yunnan Provincial High Court will not have a significant impact on this year's profit and loss, and daily production operations have not been significantly affected. \* The 43% equity held by the controlling shareholder Kunming Dianchi Investment has been frozen * Additionally, the group indicated that it recently received an execution assistance notice issued by the People's Court of Xishan District, Kunming City, Yunnan Province, informing that approximately 43.4% of the equity held by the controlling shareholder Kunming Dianchi Investment has been frozen for a period of 3 years. Since the group maintains independence in terms of assets, business, and finance from Kunming Dianchi Investment, the seizure and freezing of the shares held by Kunming Dianchi Investment will not affect the normal operation of the group. (wh)