Shanghai Sanmao (600689): Litigation Matters

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Shanghai San Mao enterprise (Group) Limited by Share Ltd

Notice concerning litigation matters

The board of directors and all directors of the company guarantee that there is no false record, misleading statement or major omission in the contents of this announcement, and shall bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.

Important note:

The litigation stage of the case is accepted by the first instance and has not yet been heard.

The status of the party concerned: defendant

The amount involved is 937 thousand and 900 yuan and overdue interest loss.

Whether it will have a negative impact on the profits and losses of listed companies: because the case has not yet been tried, it is impossible to judge the specific impact of this lawsuit on the company's profits and losses.

First, the basic situation of this case.

The Shanghai San Mao enterprise (Group) Limited by Share Ltd (hereinafter referred to as "the company" and "the defendant") received the notice of action from Shanghai people's court in April 7, 2020 ((2020) Shanghai and 0115 early Republic of China No. 16398), and the parties to the lawsuit are as follows: (16398)

Plaintiff: Shanghai Yun Lun Trading Co., Ltd. (hereinafter referred to as "plaintiff")

Legal representative: Cai Yaping

Defendant: Shanghai San Mao enterprise (Group) Limited by Share Ltd

Legal representative: Zou Ning

Two. The facts, requests and reasons for litigation.

(1) facts and reasons of cases

According to the complaint, the plaintiff and the defendant signed the domestic sales contract in March 28, 2018 and April 19, 2018. The two sides agreed to sell the black knitted twill fabric to the defendant by the plaintiff in the contract. The contract agreed to purchase 80000 yards of black, 60000 yards of dark brown, and the contract amount was 1918000 yuan. The plaintiff actually supplies the defendant with a code of 129095.4 yards.

For $1768606.98, the defendant paid only 830672.7 yuan for the plaintiff until May 29, 2018, and had not yet paid 937934.28 yuan. The plaintiff made repeated consultations with the defendant over the late payment of the defendant, but the defendant stated that the quality of the goods mentioned above had to be delayed and refused to pay because of the quality problems. Because the plaintiff's goods were resale to the defendant outside the case, the defendant refused to pay the plaintiff. The plaintiff was prosecuted by the Shaoxing Fuxin Textile Technology Co., Ltd. in Shanghai Changning District people's Court [case No.: (2018)). Shanghai and the early 13221 of the Republic of China (No. 0105) led to the plaintiff's actual loss in case 13221 of the 0105 and early Republic of China (2018) Shanghai, so the plaintiff claimed that the defendant's breach of contract resulted in the plaintiff's actual loss.

(two) litigation claim

1, the defendant was ordered to pay 937934.28 yuan in arrears to the plaintiff.

2, the loss of overdue interest from the defendant to the plaintiff should be calculated on the basis of 937934.28 yuan and 1.5 times the loan interest rate stipulated by the people's Bank of China from July 3, 2018 to August 19, 2019. Based on the 937934.28 yuan, the interest rate quoted by the national interbank lending Centre (LPR) will be calculated from August 20, 2019. The date of actual payment.

3, the defendant was ordered to pay the plaintiff the loss due to the late payment of the defendant's breach of contract, which was caused by the plaintiff's prosecution in the case of 13221 (2018) Shanghai and 0105 early Republic of China (12714.2 yuan in the case, 5865 yuan in the counterclaim case, 5000 yuan in the preservation fee, 5300 yuan in the identification (examination) fee, and the second instance case.

notes

Acceptance fee, first instance lawyer fee 30000 yuan).

4, the case acceptance fee shall be borne by the defendant.

(Note: the second instance case has not been decided yet. For details, see the company's announcement on 18 December 2019 in the Shanghai Securities Daily, Hongkong Wen Wei Po and the Shanghai stock exchange website www.sse.com.cn).

Three. The impact of this announcement on the company's current profits or future profits.

Because the case has not yet been tried, it is impossible to judge the specific impact of this lawsuit on the company's profits and losses. The company will fulfill its obligation of information disclosure in accordance with the progress of litigation.

Four. Reference documents

1, Shanghai Pudong New Area people's court respondent notice (2020) Shanghai 0115 early Republic 16398

2. Civil petition.

The company designated the information disclosure media as "Shanghai Securities News", "Hongkong Wen Wei Po" and Shanghai stock exchange website www.sse.com.cn. We invite investors to invest rationally and pay attention to investment risks.

Notice hereby.

Shanghai San Mao enterprise (Group) Limited by Share Ltd

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