China Qidian Guofeng Holdings Ltd. Provides Update on Anhui Four Seas Equity Transaction Amid Ongoing Legal Proceedings
Reuters
May 21
China Qidian Guofeng Holdings Ltd. Provides Update on Anhui Four Seas Equity Transaction Amid Ongoing Legal Proceedings
China Qidian Guofeng Holdings Ltd. has provided an update regarding its subsidiary involved in legal proceedings. The update involves the Haihuitong Litigation, where Nanjing Haihuitong has appealed against a judgment from the Hanjiang District People's Court of Yangzhou City. As a result of the appeal, the court order remains effective, preventing any dealings with 65% equity interests of Anhui Four Seas until further notice. Additionally, in the Huainan Jianle Lawsuit, the People's Court of Tianjiaan District, Huainan City, issued a judgment on 12 May 2025, related to a contractual dispute between Huainan Jianle and Yangzhou Huiyin Commercial Chain. The company continues to focus on maintaining its operations and financial health, with strong performance in its new business segments, including liquor sales and education/training services.
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