Shanghai Ganglian: Controlled subsidiary Gangyin E-commerce awarded 2.21 billion yuan in first-instance judgment

Shanghai Ganglian Announcement: The first instance judgment of the lawsuit between the holding subsidiary Gang Yin E-commerce and Jiangsu Xugang Iron and Steel Group Co., Ltd. ruled that Gang Yin E-commerce was awarded a payment of 221 million yuan and compensated for the loss of interest on funds appropriation and lawyer's agency fees of 3.3 million yuan. The case is still within the appeal period, and there is uncertainty about the impact on the company's current or future profits.