Genesis's wholly-owned subsidiary's equity has been frozen, involving an amount of 400 million yuan.

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Guangdong Chuangshi Intelligent Equipment Group Co., Ltd. (Stock Code: 300083, Stock Abbreviation: Chuangshi) recently announced that its wholly owned subsidiary, Shenzhen Chuangshi Machinery Co., Ltd. (hereinafter referred to as “Shenzhen Chuangshi”), has had the shares of two subsidiaries frozen due to litigation enforcement, involving a total amount of 400 million yuan.

The announcement states that the freeze of shares stems from a dispute over technological secret infringement between Shenzhen Chuangshi and Beijing Jingdiao Technology Group Co., Ltd. (hereinafter “Beijing Jingdiao”). The case has entered the enforcement stage, with Shenzhen Chuangshi as the respondent. In December 2025, Shenzhen Chuangshi received the second-instance “Civil Judgment” (〔2023〕Supreme Court Civil Enforcement No. 2039), which ordered Shenzhen Chuangshi and Tian to jointly compensate Beijing Jingdiao for economic losses of 379.63 million yuan and reasonable expenses of 2 million yuan, totaling 381.63 million yuan, and to bear the case acceptance fees of 3.9354 million yuan for both first and second instances.

Although Shenzhen Chuangshi actively promoted the enforcement after receiving the second-instance judgment and negotiated a performance plan with Beijing Jingdiao, the two sides failed to reach an agreement. Recently, through public information queries, Shenzhen Chuangshi found that the Beijing First Intermediate People’s Court announced enforcement information showing that its holdings of 100% equity in Yibin Chuangshi Machinery Co., Ltd. (hereinafter “Yibin Chuangshi”) and Zhejiang Chuangshi Machinery Co., Ltd. (hereinafter “Zhejiang Chuangshi”) have been frozen.

Chuangshi stated in the announcement that the freezing of shares is a procedural matter in the litigation enforcement process and does not have a substantial impact on the company’s and subsidiaries’ daily production and operation activities. Yibin Chuangshi and Zhejiang Chuangshi are still managed and operated by the company, and the freeze of shares does not involve ownership change or transfer of control. The company is actively communicating and negotiating with relevant parties and will take appropriate measures in accordance with laws and regulations to properly resolve the matter. The financial treatment and impact on the company’s performance will be based on the actual enforcement progress and the final audit results of the accounting firm.

The company also reminds investors to continue monitoring the case developments and fulfill information disclosure obligations in a timely manner. Investors are advised to invest rationally and be aware of investment risks.

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Editor: Xiao Lang Kuai Bao