Zhitong Finance App News, Chongqing Development (000514.SZ) announced that the company's holding subsidiary Chongqing Jiexing Real Estate Co., Ltd. (“Jiexing Company”) received a summons from the People's Court of Yubei District of Chongqing [(2023) Yubei District No. 29921] in August 2023, and the Chongqing Yubei District People's Court accepted Shanghai Fushao Investment Co., Ltd. (“Fushao Company”)'s loan contract dispute.

On January 9, 2024, the Japanese case was heard in the Chongqing Yubei District People's Court. The second hearing was held on March 5, 2024. The first instance has yet to be decided. As of April 2, 2024, the two parties have submitted separate applications for settlement to the court.

On April 21, 2024, Jiexing received a notice from Fushao Company that Fushao Company had submitted a withdrawal application to the Chongqing Yubei District People's Court.

On April 26, 2024, Jiexing Company received a civil ruling from the People's Court of Yubei District of Chongqing [(2023) Chongqing 0112 Minchu No. 29921 bis]. The ruling was as follows: The plaintiff Shanghai Fushao Investment Co., Ltd. was permitted to withdraw the lawsuit.