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Zotye Auto Sued by Xinjin Trade for 15.4 Million Yuan
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Zotye Auto, a Chinese automaker, announced that it has been sued by Shenzhen Xinjin Trading Co., Ltd. over a contract dispute. The plaintiff is seeking repayment of a principal debt of 15.4 million yuan (approximately $2.1 million) plus accrued interest of 310,600 yuan during the period of fund occupation. Zotye Auto stated that it has received a notice of response to the lawsuit, but the case has not yet been heard or decided. The company is named as the defendant in the case. The announcement was made via a stock market live feed from StockStar, a Chinese financial news outlet.
Source report
Zotye Auto has announced that Shenzhen Xinjin Trade Co., Ltd. has filed a lawsuit against the company over a contract dispute, seeking repayment of outstanding principal amounting to RMB 15.4 million, along with interest accrued during the period of fund occupation, provisionally calculated at RMB 310,600.
The company recently received a notice of response to the lawsuit. The case has not yet been heard in court, and no judgment has been rendered. Zotye Auto is named as the defendant in the case.
Source
证券之星-股市直击Neutral / independent