Zhitong Financial App News, Liaoning Port shares (02880) notice that from March 22, 2021 to June 22, 2021, a total of 7 warehousing cases occurred in Dalian Container Terminal Logistics Co., Ltd. Where:
Terminal logistics company filed a lawsuit, the defendant is Shunde (Dalian) supply chain Management Co., Ltd., natural persons Yin Li, Yin Yimin, Zhang Lihua, the lawsuit amount is 300 million yuan Terminal logistics is the defendant's 6 cases, the plaintiffs are Qingdao Kai Tou International Trading Co., Ltd., Fujian Rongjiang Import and Export Co., Ltd., products Zhongda Metal Group Co., Ltd., China Chengtong International Trading Co., Ltd., Qingdao Zhongli Trading Co., Ltd., Chongqing Yufeng Import and Export Co., Ltd. (hereinafter collectively referred to as "Import Agent" or "warehousing client") Among them, Qingdao Kai surrender Wharf Logistics Company and Shunde Company are the co-defendants, and in the other five cases, except Chongqing Yufeng case, Shunde Company is added as the third party, the cause of the case is port cargo custody contract dispute or warehousing contract dispute, the total amount of litigation is 1.06 billion yuan.
In the above-mentioned cases, the terminal logistics company has hired Shanghai Yingtai Law firm as the entrusted agent in the above seven cases. The above seven cases were heard by maritime courts, including 4 cases of Dalian Maritime Court, 2 cases of Ningbo Maritime Court and 1 case of Wuhan Maritime Court.
On November 29th, 2021, the terminal logistics company received the judgment of the first instance of the Ningbo Maritime Court on the case of China Chengtong International Trading Co., Ltd. against the terminal logistics company, and ordered the defendant terminal logistics company to pay about 110 million RMB and corresponding interest to the plaintiff China Chengtong International Trading Co., Ltd., rejecting other claims. The terminal logistics company refused to accept the judgment and filed an appeal to the higher people's Court of Zhejiang Province on December 9, 2021, which was accepted by the court and the judgment of first instance did not take effect. Other cases are under trial and no court has yet made a decision.
With regard to the case of China Chengtong International Trading Co., Ltd., the terminal logistics company filed an appeal to the higher people's Court of Zhejiang Province on December 9, 2021, requesting the court to rescind the judgment of the Ningbo Maritime Court of first instance and send the case back for retrial, or change the sentence according to law not to support all the appellee's claims; request that the appellee be ordered to bear the case acceptance fees, property preservation application fees and other litigation fees of the first and second instance of the case in accordance with the law. At present, the court has accepted it, but it has not yet held a hearing.
Based on the evidence already available and the professional advice of external legal advisers, the warehousing entrusting party is the import business agent of Shunde Company, the goods involved are actually owned by Shunde Company, and the terminal logistics company releases the goods to Shunde Company, which does not infringe upon the rights of the warehousing consignor. The advance capital provided by the warehousing consignor to Shunde Company failed to be repaid by Shunde Company on schedule, which has no causal relationship with the delivery behavior of the terminal logistics company.
Even if the loss of RMB 110 million is recognized as a loss in the case of China Chengtong International Trading Co., Ltd., these amounts are not significant to the company. The terminal logistics company is a limited company with a net asset of about 186 million yuan. The company and other members of the company do not bear guarantee liability or joint and several liability for any related liability of the terminal logistics company. Even if the most pessimistic scenario is considered, the company will lose all its long-term investment in the terminal logistics company, and the loss will be capped at about 186 million yuan, which is still not significant to the company.
At the same time, six other import agents, including China Chengtong International Trading Co., Ltd., are discussing a settlement plan with Shunde, including applying for withdrawal after signing a settlement agreement. The company will actively seek a reasonable response plan, safeguard the company's legitimate rights and interests, and in accordance with the requirements of laws and regulations, timely fulfill the obligation of information disclosure of the progress of the lawsuit, and respectfully invite the majority of investors to pay attention to the investment risk.