La solicitud de revisión de la demanda por compromiso de rendimiento de Jingyan Technology fue rechazada. La recuperación de la ejecución fue de solo 160,600 yuanes.

Jiangsu Jingyan Technology Co., Ltd. (Stock code: 300709, stock abbreviation: Jingyan Technology) announced recently that the company received a “Civil Ruling” issued by the Jiangsu Higher People’s Court, which dismissed the re-application for retrial filed by Chen Mingfang and Zheng Yilin regarding the performance commitment compensation matter.

It is reported that the dispute over performance compensation between Jingyan Technology and Chen Mingfang and Zheng Yilin (Chen Mingfang’s husband) began in March 2023, when the company filed a lawsuit with the Zhonglou District People’s Court of Changzhou City. After a first and second instance, the Intermediate People’s Court of Changzhou issued a final judgment in April 2024, ordering Chen Mingfang and Zheng Yilin to pay the company performance compensation of 90.9331 million yuan, a penalty of 750,000 yuan, and legal fees of 200,000 yuan.

Due to Chen Mingfang and Zheng Yilin’s failure to fulfill the effective judgment, Jingyan Technology has applied to the court for compulsory enforcement, which legally froze their relevant equity assets and identified some real estate clues. The company also applied to auction or sell the 10% equity stake in Shenzhen Antxin Technology Co., Ltd. held by Chen Mingfang. However, to date, only 160,600 yuan has been deducted from the bank accounts and online payment accounts of the persons subject to enforcement.

The announcement specifically points out that because Chen Mingfang and Zheng Yilin have limited assets available for enforcement, the outcome of enforcement is highly uncertain, and the overall recovery scale of the case is limited. The company has not yet recognized the income from the unpaid performance compensation. The impact of this case on the company’s current or future profits will depend on subsequent enforcement progress.

In addition, Jingyan Technology stated that as of the date of this announcement, the total amount involved in small claims and arbitration cases in the past 12 months by the company and its controlling subsidiaries is approximately 33.1422 million yuan (excluding the amount involved in this disclosed litigation matter), and there are no major litigation or arbitration matters that should be disclosed but have not been disclosed. The company will continue to monitor the follow-up developments of this matter and will legally safeguard the legitimate rights and interests of the company and its shareholders.

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Editor: Xiaolang Kuaibao