Fufeng Group Limited ( (HK:0546) ) has provided an announcement.
Fufeng Group Limited announced a successful litigation outcome involving its subsidiary, Shandong Fufeng Fermentation Co., Ltd, against Xinjiang Meihua Amino Acid Co., Ltd, Meihua Biotechnology Group Co., Ltd, and Zhang Wei over the infringement of commercial production secrecy of Xanthan Gum. The settlement agreement, which includes a compensation payment of RMB233,000,000, allows the defendants a perpetual usage permit of the production secrecy. This agreement is expected to save Fufeng Group time and costs in future legal proceedings, with no material adverse impact anticipated on the company’s financial position or operations.
More about Fufeng Group Limited
Fufeng Group Limited is a company incorporated in the Cayman Islands, operating in the biotechnology sector. It specializes in the production of fermentation-based products, with a focus on Xanthan Gum, a key ingredient used in various industries.
YTD Price Performance: -2.31%
Average Trading Volume: 2,342
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: €1.63B
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