Zhongchuang Environmental Protection announced on September 8 that the Xiamen Intermediate People's Court issued a retrial judgment in a securities misrepresentation liability dispute. The company is required to compensate 257 people including Dai Ye a total of 54.962 million yuan, and 56 people including Yang Lijun a total of 10.3444 million yuan, with the two cases totaling approximately 65.3064 million yuan in compensation. The dispute stems from the company's failure to disclose related-party fund occupation and related-party transactions in accordance with the law in 2016 and 2017, and false records in its periodic reports. The case had previously gone through appeals and remand for retrial. The company said the judgment will not have a negative impact on current or future profits and losses, and it plans to appeal. Zhongchuang Environmental Protection has posted losses for five consecutive years. In the first half of this year, revenue was 158 million yuan, and the net loss attributable to the parent company was 39.7169 million yuan.
Xiamen Savings EnvironmentalCompany ordered to pay 65.3 million yuan in retrial of securities misrepresentation case, plans to appeal.
