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*ST Meili: Lawsuit involving a controlling subsidiary totals $28.41M

2026-07-24 01:31:38

*ST Meili announced that the company’s controlling subsidiary, Fujian Meili Ecological Construction Group Co., Ltd., has filed a lawsuit with the Xiamen Maritime Court over a maritime and commercial dispute with Yan Xianglin. The lawsuit requests that the “Sea Sand Transportation Settlement Note” signed by both parties on November 20, 2018 be rescinded, and that Yan Xianglin be ordered to refund the project payment of 28.2M and overdue interest, totaling 28.41M. Recently, the Xiamen Maritime Court has accepted the case; the first-instance trial has not yet been scheduled.

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