China Everbright (HK:0165) has released an update.
China Everbright Limited has announced an update on its ongoing legal proceedings involving equity transfer disputes with Ying Li International Real Estate Limited and its subsidiaries. Recently, the High People’s Court of Chongqing Municipality overturned the first-instance judgment due to unclear facts and errors, calling into question the previous ruling that the company should pay RMB 1.17 billion in equity transfer consideration to plaintiff Fang Ming. The case is a significant point of interest for stakeholders as it may affect the company’s financial liabilities and stock performance.
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