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Gilston Group (02011.HK): a zipper manufacturer initiates two lawsuits against the company's subsidiaries.
Gilston Group (02011.HK) announced on November 29th that a zipper manufacturer (plaintiff) filed two lawsuits against Kai Yi (Guangdong) Garment Accessories Co., Ltd. (Kai Yi Guangdong) and/or Kai Yi (Zhejiang) Garment Accessories Co., Ltd. (Kai Yi Zhejiang, together with Kai Yi Guangdong, collectively referred to as the defendants) in the Guangzhou Intellectual Property Court. Both defendants are subsidiaries indirectly owned 85% by the company. The plaintiff claims: (i) (for one of the lawsuits) immediately stop the production of allegedly infringing products, destroy all existing inventory of the product, compensate for economic losses of 1,000,000 RMB, and reasonable.
Express News | Gilston Group - in Another Action Compensation for Economic Losses & Reasonable Expenses Totalling RMB1Mln
Express News | Gilston Group Ltd - in One Action, Immediate Cessation of Production of Allegedly Infringing Product, Amon Others
Express News | Gilston Group Ltd - Zipper Manufacturer Filed Two Actions in Guangzhou Intellectual Property Court Against Two Units
Gilston Group (02011.HK) has appointed PwC as the company's auditor.
GraceNote reported on November 8th that Gilston Group (02011.HK) announced that Hong Kong Lee Sun Tak Ho Accountants Limited ("Lee Sun Tak Ho") has resigned as the company's auditor, effective from November 8, 2024. The board of directors has decided to appoint Wingtop Fook Seng Accountants Limited ("Wingtop Fook Seng Hong Kong") as the company's auditor, effective from November 8, 2024.
gilston group (02011.HK) intends to subscribe to 90% of the capital of Shenzhen Jiajinlong Industrial Development.
On September 30, Gilston Group (02011.HK) announced that on September 30, 2024, Shenzhen Erui (a wholly-owned subsidiary indirectly owned by the company), the original shareholder, and the target company Shenzhen Jialinlong Industrial Development Co., Ltd. signed a share subscription agreement. According to this agreement, Shenzhen Erui conditionally agreed to subscribe to the target company for RMB 9 million as the consideration for RMB 9 million of registered capital (accounting for 90% of the target company's enlarged registered capital upon completion). The target company has obtained the right to use from Pingnan Railroads Company during the period from January 1, 2023 to December 31, 2023 according to the lease agreement.
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