Digital China Unit Prevails in First-Instance Technical Services Case, Appeals Sales Contract Judgment

MT Newswires Live
1 hour ago

Digital China's (HKG:0861) indirect subsidiary Digital China Information Service (SHE:000555) provided updates on two court cases involving its wholly owned unit, Digital China System Integration Services, according to a Sunday Hong Kong bourse filing.

In one case, a court in Henan ordered Xuchang Yunzheng Smart City Construction and Operation, and Xuchang Investment Digital Economy Industrial to pay about 54.6 million yuan in contract payments, damages, and losses to Digital China System Integration Services.

In a separate sales contract dispute, the Beijing Third Intermediate People's Court ordered Digital China System Integration Services to pay about 333.6 million yuan for goods, plus interest, to Beijing Urban Construction Intelligent Control Technology.

The subsidiary has decided to appeal the ruling. The company said the judgment has not yet taken effect, and it is unable to assess the financial impact of the case until the appeal is resolved.

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.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10