China Resources Medical (01515.HK) announced that the Beijing higher people's Court dismissed the appeal of Yanhua Phoenix and Yanhua Hospital on Monday (22nd), upholding the original judgment of December 18, 2019, and ruled that it was final in relation to the lawsuit against Yanhua Phoenix and Yanhua Hospital to rescind the "Yanhua IOT Agreement" with the company's subsidiary "China Resources Medical Management" from January 21, 2019, the Beijing Municipal higher people's Court rejected the above appeal of Yanhua Phoenix and Yanhua Hospital on Monday (22nd), and ruled that this was the final judgment.
On December 18, 2019, the Beijing No. 2 Intermediate people's Court declared the rescission of the IOT agreement made by Yanhua Phoenix and Yanhua Hospital null and void, so the parties to the agreement shall continue to implement the Yanhua IOT agreement, and Yanhua Phoenix shall pay liquidated damages of RMB 14.4 million to China Resources Medical Management.