Announces on behalf of subsidiary Huzhou Anli Technology Co., Ltd. concerning arbitration matter

Announces on behalf of subsidiary Huzhou Anli Technology Co., Ltd. concerning arbitration matter
Material Information
2023-03-10

  1. Parties to the legal matter: Huzhou Anli Technology Co., Ltd.   Jiangsu Didu Construction Engineering Co., Ltd.

  2. Name of the court or punishing agency of the legal matter: Huzhou Arbitration Commission

  3. Reference/Case number of relevant documents of the legal matter: (2022) Hu Zhong No.118

  4. Date of occurrence of the event:2023/03/10

  5. 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. The contract has been confirmed by the Huzhou Arbitration Commission on December 22, 2022 that the contract is rescinded. Huzhou Anli had appointed the lawyer to handle this case and submitted an arbitration application to the Huzhou Arbitration Commission on September 28, 2022. Today, Huzhou Anli received notice from the Huzhou Arbitration Commission that Jiangsu Didu filed a counterclaim for arbitration. And requested Huzhou Anli to submit the relevant statement of defense and supporting documents.

  6. Handling procedure: Huzhou Anli has appointed a lawyer to submit the relevant statement of defense and supporting documents within the time limit to protect legal rights.

  7. 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.

  8. Countermeasures and improvement status: Huzhou Anli has appointed a lawyer to submit the relevant statement of defense and supporting documents within the time limit to protect legal rights.

  9. Any other matters that need to be specified(the information disclosure also meets the requirements of Article 7, subparagraph 2 of the Securities and Exchange Act Enforcement Rules, which brings forth a significant impact on shareholders rights or the price of the securities on public companies.):None.