Genesis and its chairman, board secretary warned over delayed disclosure of 382 million yuan patent infringement enforcement against subsidiary

Regulation
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Genesis has received a warning letter from the Guangdong Securities Regulatory Bureau, and the Shenzhen Stock Exchange has also issued a regulatory letter, after the company failed to promptly disclose the enforcement progress of a 382 million yuan patent infringement lawsuit involving its wholly-owned subsidiary Shenzhen Genesis. The warning was directed at the company, chairman Xia Jun, and board secretary Wu Yongbing. In December 2025, the Supreme People's Court issued a second-instance judgment ordering Shenzhen Genesis to jointly compensate Beijing Jingdiao for economic losses of 379 million yuan and reasonable expenses of 2 million yuan, totaling 382 million yuan. After the judgment took effect, Shenzhen Genesis did not fulfill its obligations on time. Beijing Jingdiao applied for compulsory enforcement in January 2026 and froze its bank accounts. As of March 16, a cumulative total of 75.1116 million yuan had been frozen, and by March 27, a cumulative total of 76.0079 million yuan had been deducted. Genesis delayed disclosing a temporary announcement until May 14, 2026, and did not disclose the enforcement status in its 2025 annual report. The company stated that Shenzhen Genesis has applied to the Supreme People's Court for a retrial of the technical secret dispute case and the application has been accepted, but there is significant uncertainty as to whether a retrial will be granted and its outcome.

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深圳创世纪Private▼ Negative
Regulationrelevance

Subsidiary ordered to pay 382 million yuan, bank accounts frozen and funds deducted.

北京精雕科技集团有限公司 (Beijing Jingdiao Technology Group Co., Ltd.)Private▲ Positive
Regulationrelevance

Beijing Jingdiao obtained court judgment and enforcement freezing subsidiary's bank accounts.

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