On October 16, Super Telecom (603322.SH) announced that the company recently reached a mediation agreement with Inspur Software Group and Jining Ninghua, and received a "Civil Mediation Letter" issued by the Guangzhou Intermediate People's Court. The main content of the mediation letter is as follows: 1. Super Telecom will return the principal amount of 0.174 billion yuan to Jining Ninghua before December 14, 2024 for the equipment not supplied under the sales contract signed between Super Telecom and Jining Ninghua in December 2023. Within three days of receiving the refund from Super Telecom, Jining Ninghua will fully pay the above 0.174 billion yuan to Inspur Software Group as the advance payment under the product purchase contract signed between Inspur Software Group and Jining Ninghua in December 2023. Inspur Software Group confirms that Super Telecom does not bear any responsibility in this case.
2. Inspur Software Group waives other claims in the creditor's rights substitution dispute between Super Telecom, Jining Ninghua in this case. 3. All parties confirm that this case only deals with the return of the principal of the two contracts mentioned above. Jining Ninghua confirms that any other outstanding matters under the sales contract with Super Telecom will be dealt with separately. Inspur Software Group confirms that any other outstanding matters under the product purchase contract with Jining Ninghua will be handled separately.
4. Inspur Software Group agrees to apply to the property preservation court to lift the freeze on all equity of Super Telecom held by the company within five days after the civil mediation letter takes effect, and agrees to apply to the property preservation court to lift all property preservation measures, such as sealing, on all properties (houses and state-owned land use rights) of Super Telecom located in Baiyun District, Guangzhou, within five days after Super Telecom pays the 0.174 billion yuan as stipulated in the first article of this mediation agreement to Jining Ninghua. 5. The case acceptance fee of 1,457,500 yuan (halved to 728,750 yuan) and the preservation fee of 5,000 yuan are borne by Inspur Software Group.
This case is a creditor's rights substitution lawsuit triggered by a dispute over the trade of NVIDIA H800GPU modules between Inspur Software Group Co., Ltd. (referred to as "Inspur Software Group") and the company's customer Jining Gaoxin Ninghua Big Data Co., Ltd. (referred to as "Jining Ninghua"). In order to resolve the related disputes as soon as possible, the company recently reached a mediation agreement with Inspur Software Group and Jining Ninghua, and received the "Civil Mediation Letter" from the Guangzhou Intermediate People's Court. Inspur Software Group confirms that Super Telecom does not bear any responsibility in this case, and the case has been settled through mediation. The settlement of this litigation case will help lift the freeze on the equity of Super Telecom's subsidiary and real estate under Super Telecom's name in a timely manner, facilitate the release of the bank financing limit of the listed company, provide strong support for the efficient conduct of subsequent business, and effectively safeguard the legitimate rights and interests of the listed company.