Qianhai Health's Former Subsidiary's Dispute Hangs in Court, Disposal to Yield Gain of HK$52 Million

MT Newswires Live

Dec 20, 2024

Qianhai Health's (HKG:0911) said the contractual dispute between its now-former step-down subsidiary Cheerwin and its supplier remained unresolved as of the date of disposal of QHH Limited, the sole owner of Cheerwin, a Friday Hong Kong bourse filing said.

The Beijing Fourth Intermediate People's Court had asked Cheerwin to produce evidence regarding the dispute between, among others, Cheerwin and its supplier on April 17, and the court hearing regarding the dispute had started back in November.

The company said that the completion will not affect its consolidated statement of profit or loss for the six months ended June 30.

The company stands to gain HK$51.8 million from the disposal and plans to use the sale proceeds for its general working capital.

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