ST Derun announced that the pre-litigation property preservation measures arising from a dispute with creditor Sichuan Gangrong Investment Development Group over share repurchase obligations have been lifted, including the freezing of equity in relevant subsidiaries and the sealing of assets. A total of nine subsidiaries have had their equity freezes lifted, including Heshan Derun Electronic Technology, Heshan Herun Electronic Technology, Guangdong Keshide Run Automotive Parts, Shenzhen Derun Optics, Shenzhen Derun Precision Components, Huizhou Shenghua Technology, Mianyang Hongrun Electronics, Anhui Derun Electronic Technology, and Hefei Derun Electronic Devices. The unsealed assets are five properties in the main building of Tian'an Cyber Times Tower in Futian District, Shenzhen. Gangrong Group has previously withdrawn the lawsuit, and the company's daily production and operations have not been materially affected.
Shenzhen Deren Electronic Co LtdEquity freezes and asset seals from the Gangrong litigation were lifted, removing legal restrictions on nine subsidiaries and five properties.
