Jiangsu AMER New Material (SHE:002201) was ordered by a Jinan court to pay 29.6 million yuan in damages to CRRC Shandong Wind Power over defective products, according to a Saturday filing with the Shenzhen bourse.
The company must also refund 4.6 million yuan for returned products and pay an insurance fee of 17,024 yuan. In return, CRRC must pay 10 million yuan in outstanding payments and 501,892 yuan in penalties.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.