Xiangdian Co., Ltd.'s Subsidiary and Sub-subsidiary Involved in 31.93 Million Yuan Sales Contract Dispute Case Enters Second Instance Awaiting Trial Stage

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Shanxi Electric Motor Co., Ltd. (Stock Code: 600416, Stock Abbreviation: Xiangdian Co.) recently announced that there has been a new development in a sales contract dispute involving its wholly owned subsidiary Xiangdian International Trade Co., Ltd. (hereinafter referred to as “Guomao Company”) and its subsidiary Xiangdian (Shanghai) International Trade Co., Ltd. (hereinafter referred to as “Xiangdian Shanghai Guomao”). The case has entered the second-instance procedure and is currently awaiting a court hearing. The involved amount is 31.93125 million yuan.

It is understood that the dispute over the sales contract between Guomao Company, Xiangdian Shanghai Guomao, and Shenzhen Qianhai Zhongmaotong Supply Chain Management Co., Ltd. (hereinafter “Shenzhen Qianhai”) was previously heard by the Futian District People’s Court of Shenzhen, Guangdong Province. Now, Shenzhen Qianhai has filed an appeal with the Shenzhen Intermediate People’s Court of Guangdong Province due to dissatisfaction with the original ruling. The company received the electronic legal documents, including the “Civil Appeal Petition,” from the Shenzhen Intermediate Court on March 18, 2026.

Shenzhen Qianhai’s main appeal requests include two points: first, to revoke the civil ruling No. (2025) Yue 0304 Minchu 27210 issued by the Futian District People’s Court of Shenzhen; second, to instruct the original court to conduct substantive trial of the case. As of the date of this announcement, the date for the second-instance court hearing has not yet been scheduled.

Xiangdian Co. stated that since the second-instance trial has not yet been held, it is currently unable to determine the specific impact on the company’s current or future profits. The company will actively respond to the lawsuit and fulfill its disclosure obligations in a timely manner based on the progress of the case.

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Editor: Xiao Lang Kuai Bao