Man Sang Int'l (00938) announced that a court hearing on a legal dispute will be held on June 6, 2024. During the hearing, both parties will submit and exchange evidence in support of their claims. As both parties have previously expressed willingness to mediate, the court has instructed them to attempt to reach an out-of-court settlement within the next 20 days. The next hearing will be held in court on June 27, 2024. As of the date of this announcement, the court has not made any rulings on the legal dispute.
On June 6, 2024, a court hearing on a legal dispute will be held for Man Sang Int'l (00938), as announced in a statement. During the hearing, both parties will submit and exchange evidence in support of their claims. As both parties have previously expressed willingness to mediate, the court has instructed them to attempt to reach an out-of-court settlement within the next 20 days. The next hearing will be held in court on June 27, 2024. At the time of this announcement, no rulings have been made by the court on this legal dispute.
Chongqing Huangshi will continue to actively negotiate with lenders to resolve disputes friendly and revise loan agreement terms. As the lender has provided continuous feedback during the negotiation process, the company is optimistic about the negotiation results. If an agreement can be reached, legal disputes are expected to be resolved, and the revised loan agreement terms will be more favorable to the group than the existing terms, and the repayment schedule of the revised loan agreement will be similar to the existing deadline of full and final repayment in March 2035.