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Parties to the legal matter:
Huzhou Anli Technology Co., Ltd.
Jiangsu Didu Construction Engineering Co., Ltd.
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Name of the court or punishing agency of the legal matter: Huzhou Arbitration Commission
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Reference/Case number of relevant documents of the legal matter: Hu Zhong(2021) Tsai Tzu No.101
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Date of occurrence of the event:2021/12/22
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Details of occurrence (including the matter under dispute):
Huzhou Anli Technology Co., Ltd.(hereinafter referred to as Huzhou Anli)and Jiangsu Didu Construction Engineering Co.,Ltd. (hereinafter referred to as Jiangsu Didu) signed a construction contract on September 1, 2020.
Huzhou Anli think that Jiangsu Didu had no reason to delay the construction schedule and refused to take any improvement measures, which obviously constituted a major breach of contract. Huzhou Anli has appointed the lawyer on August 10, 2021 and submitted an arbitration application to the Huzhou Arbitration Commission in order to protect the legal rights and interests of the company. -
Handling procedure: Huzhou Anli has appointed the lawyer on August 10, 2021 and submitted an arbitration application to the Huzhou Arbitration Commission. The arbitrament of the Huzhou Arbitration Commission has been received, which confirms the ”Construction Contract” to be terminated since August 9, 2021.
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Impact on the Company’s finance and business and projected amount: Based on current information, the arbitration case did not have a significant impact on the company’s finances and business.
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Countermeasures and improvement status: The delay in the construction progress of the Jiangsu Didu caused the company's losses, and it is planned to pass a separate case for compensation in order to protect the company's rights and interests.
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Any other matters that need to be specified:None.