Jin Yu Che Cheng (000803): Progress Of Major Litigation

Sichuan Jinyu Automobile City (Group) Limited by Share Ltd

Announcement of major litigation progress

All members of the company and the board of directors guarantee that the contents of the information disclosure are true, accurate and complete, without false records, misleading statements or major omissions.

I. The basic situation of the case

The plaintiff, Dongguan Construction Engineering Group Co., Ltd. (hereinafter referred to as "Dongguan construction worker") sued the Nanchong intermediate people's court to prosecute the defendant, Nanchong Jinyu Real Estate Development Co., Ltd. (hereinafter referred to as "Jinyu real estate") and the defendant Sichuan Jinyu Automobile City (Group) Limited by Share Ltd (hereinafter referred to as "company" or "Jinyu Che Cheng"), Jinyu car city is the sole shareholder of Jinyu real estate. In the case of construction contract disputes between Dongguan construction and Jinyu real estate construction projects, according to the settlement reports submitted by the plaintiff, the settlement amount was 201767806.46 yuan, and still owed 60 million yuan. The plaintiff's suit ordered the defendant Jinyu property to pay 60 million yuan for the plaintiff's project, and the defendant paid the interest of the plaintiff for the delayed payment of the project (at the rate of 60 million yuan in the same period of the bank loan), which was calculated from July 1, 2014 until the day of payment. The interest is temporarily suspended to 13 million 765 thousand yuan in May 30, 2019); the judgment confirms that the plaintiff's project has a priority claim in the auction construction project; the judgment Jinyu city is responsible for joint payment of the project and interest rate for Jinyu real estate, and the litigation fee is borne by the two defendants. Jinyu real estate and the company received the "application for additional litigation request" delivered by the Nanchong intermediate people's court in August 19, 2019. The Dongguan construction workers demanded that the defendant increase the payment of the plaintiff's project amount by 1014004 yuan and the interest rate from October 1, 2014 until now. The specific contents of the case are detailed in the "major litigation notice" (Bulletin number: 2019-79) disclosed by the company in August 3, 2019 and August 20, 2019 on the China Securities Journal and the giant tide information online, and the announcement of the progress of major litigation (Bulletin number: 2019-82).

Two. Progress of cases

Jinyu real estate and company received the "civil ruling" delivered by the intermediate people's Court of Nanchong in September 25, 2019. The details are as follows:

1, parties concerned

Applicant: Dongguan Construction Engineering Group Co., Ltd.

Respondent (defendant): respondent of Nanchong Jin Yu Real Estate Development Co., Ltd. (defendant two): Sichuan automotive city (Group) Limited by Share Ltd, Sichuan

2. Reasons for progress

The applicant, Dongguan construction worker, applied for property preservation to the court on 28 June 2019, requesting the preservation of the property of the applicant's Jinyu property and Jinyu Che Cheng worth 30 million yuan. The Chengdu branch of the Peoples Insurance Company of China issued a letter of guarantee for property preservation to the court on June 2019 27, providing guarantee for the application of this property preservation of Dongguan construction company.

3, court ruling

After examination, the intermediate people's Court of Nanchong ruled that the house was worth 30 million yuan and the sealing period was three years.

Three, litigation decisions

The lawsuit has been accepted by the Nanchong intermediate people's court, and is now in court and has not yet been decided.

Four, the impact on the company

Due to the failure of the case, the company is unable to judge the specific impact of this litigation on the company's current profits or subsequent profits. The seizure will affect the sale and mortgage rights of the company's assets. The company requests the majority of investors to pay attention to investment risks.

Five. Reference documents

1, civil adjudication

Notice hereby.

Sichuan Jinyu Motor City (Group) Limited by Share Ltd board of directors

September 25, 2019