Zhitong Finance App News, China International (01064) issued an announcement. In mid-April 2024, Hong Kong Chia Tai, which holds 100% interest in Guangzhou Chia Tai, filed a lawsuit with the Guangzhou Intermediate Court. The details include:

i Confirmed whether Yuexiu State-owned Asset Management Company (the seller of Yuefang State-owned Enterprises) retained Yuefang State-owned Assets Management Company's interests in Guangzhou as state-owned assets in accordance with the law, and whether Yuexiu State-owned Assets Management Company (the first defendant) and Hong Kong Chia Tai (plaintiff) had a legal relationship in cooperating in the Guangzhou Zhengda project;

ii. Confirm whether Hong Kong Chia Tai and Vietnam Housing Private Enterprise (the second defendant) had no legal relationship in the cooperative operation of the Guangzhou Chia Tai project; and

III claims interest losses of RMB 41 million from Yuexiu State-owned Assets Management Company.

The lawsuit was accepted by the Guangzhou Intermediate Court in mid-May 2024, but the trial date is yet to be determined. Guangzhou Zhengda joined the lawsuit as an interested party.

According to reliable legal opinions, Hong Kong Chia Tai and Guangzhou Chia Tai both believe that if Hong Kong Chia's claim is confirmed by the court, the new liquidation order will be invalid and unable to operate according to law.

Since the company is still preparing updated documents and analysis for its revised consolidated accounts (including but not limited to property revaluation, tax impact estimates on asset monetization, updates to legal opinions on the legality and enforceability of the new liquidation order under the latest case developments (if any), and updates on post-period events), it is expected (except for unforeseen circumstances) that the 2023 results will be announced around June 21, 2024, and the 2023 report will be sent out around June 28, 2024.