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ST Meichen: Wholly owned subsidiary involved in two major lawsuits with a total amount involved of approximately 31,901,800 yuan
ST Meichen announces that its wholly owned subsidiary, Hangzhou Saishi Garden Group Co., Ltd., has been sued over a construction contract dispute involving approximately 11.5018 million yuan; its wholly owned subsidiary, Shandong Meichen Industrial Group Co., Ltd., has been sued over a technology cooperation development contract dispute involving approximately 20.4 million yuan. The cases have not yet gone to court, and their impact on the company’s current or future profits is uncertain.