Zhengwei Group Holdings Co. Ltd. has announced the settlement of legal proceedings through a Civil Mediation Agreement. The dispute involved a sale and purchase contract with Pingnan County Anwang Trading Co., Ltd., where the plaintiff alleged non-payment for food supplies valued at RMB38,190,000. As per the agreement mediated by Fujian Province Fuzhou Gulou People's Court, the 1st Defendant, an indirectly wholly-owned subsidiary of Zhengwei, is obliged to pay the full amount in three installments by July 2025. The company, along with another defendant, is jointly liable for the repayment. Zhengwei Group has assured that deconsolidation of the financial statements of the involved subsidiary will not adversely affect the group's financial position. Shareholders and potential investors are advised to exercise caution when dealing in the company's shares.
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