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ST Hezong Receives Enforcement Notice Over Equity Buyback Dispute, Enforcement Target Approximately 166 Million Yuan
ST Hezong recently received an Enforcement Notice delivered by the Jiaxing Intermediate People's Court of Zhejiang Province. Due to a contract dispute with Zhejiang Huayou Cobalt, the company is required to fulfill obligations determined by an effective judgment, with an enforcement target of approximately 166 million yuan plus interest, and an additional enforcement fee of about 232,400 yuan. The case originated from Huayou Cobalt's capital increase in 2022 into the company's subsidiary, Hunan Yacheng New Energy, under which the company had a conditional equity buyback obligation but failed to perform on time. Huayou Cobalt filed a lawsuit in June 2025, and the Zhejiang High People's Court has issued a final judgment. The company stated that the impact of this case on current or future profits will be subject to the annual audit report, and it will actively take measures to safeguard the interests of the company and shareholders.