Tianci Materials' subsidiary sues Twelve Parties for infringing on trade secrets, involving an amount of 1.47B yuan.

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On April 2, Guangzhou Tinci High-tech Materials Co., Ltd. (stock abbreviation: Tinci Materials; stock code: 002709) released an announcement stating that the company’s wholly owned subsidiary, Jiujiang Tinci High-tech Materials Co., Ltd. (hereinafter referred to as “Jiujiang Tinci”), has filed a lawsuit with the Guangdong Provincial Higher People’s Court regarding an infringement dispute involving trade secrets. The court has now accepted the case for filing. As the plaintiff, Jiujiang Tinci accuses 12 defendants of jointly engaging in trade secret infringement. The amount involved is as much as RMB 147,162 million (approximately RMB 1.472 billion) and includes the attorneys’ fees for rights protection. The announcement also notes that this litigation is expected not to have any direct negative impact on the company’s current-period profit or loss.

According to the disclosure in the announcement, this lawsuit involves all technical information owned by Jiujiang Tinci, including the industrialized production technology for lithium hexafluorophosphate in liquid form, the industrialized production technology for lithium bis(fluorosulfonyl)imide in liquid form, as well as related production line design, production equipment, and other technical information. Jiujiang Tinci believes that defendant Li Sheng (who previously served as the process technology general manager and chief engineer of the battery production department at Jiujiang Tinci) after resigning in May 2021, obtained the above trade secrets through improper means such as theft and illegal copying, and together with the other 11 defendants (including Shenzhen Yanyi New Materials Co., Ltd., Zhejiang Yanyi New Energy Technology Co., Ltd., and other companies, as well as multiple natural persons) applied the technology to relevant project construction, and also illegally disclosed trade secrets through filing patents and other means.

In its litigation requests, Jiujiang Tinci asks all 12 defendants to immediately stop the infringing acts, destroy the related production line equipment, process materials, and storage media, jointly compensate for economic losses of RMB 1.472 billion, apologize and make amends in the “Nanfang Daily” and “Securities Times,” and also bear the litigation costs for this case.

The announcement shows the following parties involved in this lawsuit:

Tinci Materials stated that, aside from the matters in this announcement, the company and its controlling subsidiaries within the consolidated reporting scope have no other material litigation or arbitration matters that should have been disclosed but have not been disclosed. Since this case has not yet been heard in court, there is a possibility of settlement or mediation. At present, the company is unable to determine its specific impact on profits in future periods. There is uncertainty as to whether the litigation requests will ultimately be supported, and the actual impact shall be subject to the court’s judgment. The company will closely monitor subsequent developments and timely fulfill its information disclosure obligations.

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Editor-in-charge: Xiaolang KuaiBao