Summary by Moomoo AI
Huisen Intl (HUISEN INTL) is facing several civil mediation cases brought by Nankang Development Group and Longnan Development Company against some of its subsidiary companies. Nankang Development Group has initiated mediation against former directors of Huisen Intl, Mr. Zeng Ming, and others, involving an amount of 229 million yuan, while Longnan Development Company has initiated a mediation for 119 million yuan. The mediation results are final and cannot be appealed. The Nankang District People's Court in Ganzhou, Jiangxi Province, has issued a mandatory enforcement order against the assets of the subsidiary companies. However, as of the announcement date, no enforcement actions have been taken. Huisen Intl believes that, based on sufficient collateral, the enforcement will not have an impact on the group's finances and business, and will timely inform shareholders and investors of relevant progress. The announcement was issued by the chairman of Huisen Intl, Mr. Wu Runlu, on November 20, 2024.
