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The latest update is out from China Shengmu Organic Milk Ltd ( (HK:1432) ).
China Shengmu Organic Milk Ltd announced an update on its ongoing litigation related to an Investment Agreement. The Appeal Court has issued a final judgment, significantly reducing the sum awarded to the plaintiff compared to the initial judgment, which is seen as favorable for Shengmu High-tech. The company is required to pay a sum of RMB20,272,362 along with accrued interest and legal fees. The company’s frozen assets will be released once the payment is settled, and a provision of RMB85 million was made for probable losses related to this litigation.
More about China Shengmu Organic Milk Ltd
China Shengmu Organic Milk Ltd is a company incorporated in the Cayman Islands, primarily engaged in the production and distribution of organic milk products. The company operates within the dairy industry, focusing on providing high-quality organic dairy products to its market.
Average Trading Volume: 8,038,301
Technical Sentiment Signal: Hold
Current Market Cap: HK$2.56B
For an in-depth examination of 1432 stock, go to TipRanks’ Overview page.