Feishang Anthracite Resources Ltd. and several of its subsidiaries, along with Feishang Group Limited and other parties, have been named as defendants in legal proceedings filed in the Intermediate People's Court of Guiyang City, China. The litigation was initiated by Guizhou Province Development Investment Company Limited and centers on a coal sales contract between Guizhou Puxin Energy Co., Ltd., a subsidiary of Feishang, and the plaintiff. Under the agreement, Guizhou Puxin received prepayments totaling CNY200 million, and Feishang Group Limited pledged 600 million ordinary shares of Feishang Anthracite Resources Ltd. as security for the contract's performance. The company is currently seeking legal advice regarding the proceedings and the implications for the pledged shares. Shareholders and potential investors are advised to exercise caution when dealing in the company's shares.
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