Eternal Asia Supply Chain Management (SHE:002183) and its unit, Shanwei Yiatong Supply Chain, is being sued over a sand mining dispute, according to a Shenzhen Stock Exchange filing on Sunday.
Shanwei Investment Holding is seeking compensation amounting to 882.3 million yuan from the Chinese supply chain outsourcing services provider, which was accused of failing to fulfill its obligations in the JH21-08 Block Sea sand mining contract in 2022.
The case is filed in the Intermediate People's Court of Shanwei City, Guangdong Province, China.
The company's shares closed over 3% lower.
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