China Aerospace Holdings (00031.HK) announced that on May 31, the indirectly affiliated Gaoke Property under Aerospace Gaoke received a first-instance judgment from the People's Court regarding Gaoke Property's lawsuit against Huabao Run for overdue property management fees, etc.

The judgment ruled that the defendant Huabao Run should pay a total of RMB 10.94 million in overdue property management fees, central air-conditioning maintenance fees, special maintenance funds, water fees, electricity fees, and breach of contract penalties to the plaintiff Gaoke Property within ten days from the effective date of the judgment.

In addition, the company stated that for other rejected claims of Gaoke Property, after consulting with Chinese legal advisers, it plans to study the appeal of the parts of the first-instance judgment that were not supported in the lawsuit. The company will continue to follow up on various lawsuits, actively assert and defend its rights in accordance with the law, and assess the impact of these legal proceedings on the company.