Yihuatong: Wholly-owned subsidiary sues Foshan Feichi to claim 162 million yuan in arrears and liquidated damages.

Yihuatong announced that its wholly-owned subsidiary Tangshan Qianchen New Energy Development Co., Ltd. has filed a lawsuit against Foshan Feichi Automobile Technology Co., Ltd. to Tangshan Intermediate People's Court in Hebei Province due to a dispute over a sales contract, involving an amount of 162 million yuan and corresponding overdue payment penalty of 100,000 yuan. The court has accepted the case for trial, but the trial has not yet begun. The company expects that this lawsuit will not have a major impact on its daily production and operation, but the outcome of the lawsuit and its impact on profits and losses are uncertain, and the actual impact will be determined by the final judgment of the court.