Gaosheng Civil Explosive Holdings' subsidiary involved in a 126 million yuan contract dispute enters the retrial stage at the Supreme Court

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Tibet Gaozheng Civil Explosive Co., Ltd. (Stock Code: 002827, Stock Abbreviation: Gaozheng Civil Explosive) announced on March 19 that a contract dispute involving its controlling subsidiary, Chengyuan Mining Development Co., Ltd. (hereinafter referred to as “Chengyuan Mining”), has entered the retrial review stage at the Supreme People’s Court, with the case amounting to 125.7586 million yuan. The company stated that there is uncertainty regarding the verdict of this lawsuit but expects it will not have a significant impact on current and future profits.

The announcement shows that the case originated from a contract dispute between Tibet Changdu Gaozheng Building Materials Co., Ltd. (hereinafter referred to as “Changdu Gaozheng”) and Sichuan Chuanmei Sixth Engineering Construction Co., Ltd. and Zhejiang Huazuan Construction Co., Ltd. Chengyuan Mining was originally listed as the third party in the lawsuit. Changdu Gaozheng, as the applicant for retrial, is dissatisfied with the final judgment made by the Tibet Autonomous Region Higher People’s Court and has applied for a retrial at the Supreme People’s Court. The Supreme Court has officially filed the case for review, case number [2026] Supreme Court Civil Application No. 880. The retrial request includes overturning the first and second instance judgments, ruling in favor of all claims in the first instance, and requiring Sichuan Chuanmei Sixth Engineering Construction Co., Ltd. and Zhejiang Huazuan Construction Co., Ltd. to bear all litigation costs.

Looking back at the case progress, the dispute was first accepted by the Intermediate People’s Court of Chamdo City in January 2025. Chengyuan Mining was initially listed as the defendant but was changed to a third party on January 21 of the same year. On April 26, 2025, the first instance court dismissed all claims of Changdu Gaozheng; in August of the same year, the Tibet Autonomous Region Higher People’s Court upheld the original judgment in the second instance.

The company emphasizes that the case is currently in the retrial stage at the Supreme People’s Court, and the final outcome will be based on the court’s ruling and the auditor’s audit results. The company will continue to monitor the follow-up developments and fulfill its disclosure obligations in a timely manner.

Below is the main timeline of case developments:

Click to view the original announcement >>

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Editor: Xiao Lang Kuai Bao