A total of 3.56 million yuan in the bank account of Wisesoft's controlled subsidiary Chengdu Zhisheng Guanghuan Technology was frozen and seized. The incident stems from a sales contract dispute between Zhisheng Guanghuan and Henan Wanjvda Technology Development, with a total contract value of 17.6 million yuan. Because Zhisheng Guanghuan's supplier Zhongke Kaijie Information System failed to deliver goods as agreed, Zhisheng Guanghuan could not deliver to Henan Wanjvda on time. Henan Wanjvda filed a lawsuit and applied for asset preservation. The Jinshui District People's Court of Zhengzhou ruled in the first instance to terminate the contract, requiring Zhisheng Guanghuan to return the advance payment of 5.28 million yuan plus interest and pay liquidated damages. The second-instance ruling upheld the original verdict. Wisesoft stated that the freezing and seizure will not have a material impact on the listed company's overall capital turnover or daily production and operations. As of March 31 this year, the company's net assets stood at 848 million yuan, with the seized funds accounting for only 0.42 percent. In terms of performance, Wisesoft has posted negative net profit attributable to the parent company for four consecutive years from 2022 to 2025, and its preliminary first-half 2026 forecast shows a net loss of 28 million to 32 million yuan, with no turnaround yet. In the secondary market, as of the close on August 4, Wisesoft rose 6.30 percent to 10.12 yuan per share, giving a total market value of about 2.283 billion yuan. The stock has fallen about 10 percent year to date.
Wisesoft Co LtdSubsidiary's bank account frozen due to contract dispute and court ruling, plus ongoing losses.
Subsidiary's funds seized and ordered to return advance payment and pay damages.