Shanghai Sanmao (600689): Progress In Litigation Matters

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Shanghai San Mao enterprise (Group) Limited by Share Ltd

Progress notice on 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: a final judgment has been obtained.

First, the basic situation of this case.

The Shanghai San Mao enterprise (Group) Limited by Share Ltd (hereinafter referred to as "company" and "our company") received the "civil petition" issued by the people's Court of Changning District, Shanghai in December 17, 2019. Shanghai Yun Lun Trading Co., Ltd. (hereinafter referred to as "Yun Lun company"), because of the dispute with the appellant Shaoxing Fuxin Textile Technology Co., Ltd. (hereinafter referred to as "Fu Shen company"), refused to accept the civil judgment of 13221 (0105) in the early 0105 of the Republic of China, which was made by the Changning District people's Court of Shanghai. It appealed to the first intermediate people's Court of Shanghai, requesting the cancellation of Shanghai Changning. The judgment of the above civil judgment made by the people's Court of the people's Republic of China has been changed according to law. The payment is made to the appellant (the original trial third party), the Shanghai San Mao enterprise (Group) Limited by Share Ltd, to the appellant (plaintiff), Shaoxing Fuxin Textile Technology Co., Ltd. Eight hundred and ninety-two thousand seven hundred and ninety-four point six five In addition, the plaintiff (the third person of the original trial) pays the appellant (plaintiff of the original trial) Shaoxing Fu Shen Textile Technology Co., Ltd. for overdue payment. Loss of interest.

The company is transferred from the original third person to the appellant.

Two, second instance

In May 15, 2020, the company received the civil judgment of Shanghai No. 1 Intermediate People's Court (2020), Shanghai 01 people's final 1202. The main judgments are as follows:

According to the contract relativity principle, the buyer of the company as a sales contract should fulfill the obligation to pay the loan. Now the company fails to pay the bill on time, and the court of first instance decides that the payment of the goods and the interest on the overdue payment shall not be inappropriate. The company should undertake payment and late payment by Sanmao company.

The appeal grounds for interest shall not be accepted by the court. As for the interest on overdue payment, the first instance has already determined the loan interest rate stipulated in the same period according to the people's Bank of China at the discretion of the people's Bank of China. One point five Double calculation is not wrong. To sum up, the appeal request of Yun Lun company can not be established. It should be rejected. The first instance judgment should be clear and accurate, and should be maintained. In accordance with the provisions of the first and 175th clauses of the 169th Article 1, 170th, paragraph 1 of the Civil Procedure Law of the people's Republic of China, the judgment is as follows:

Dismissed the appeal and upheld the original judgment. The second instance costs 18. Five hundred and seventy-nine point two zero Yuan is borne by the appellant Shanghai Yun Lun Trading Co., Ltd.

This judgment is final. "

Three. The impact of this announcement on the company's current profits or future profits, etc., according to the verdict of this case, this lawsuit will not affect the profits or future profits of the company. However, on the grounds of actual losses in the case, the company has filed a lawsuit against the Pudong New Area people's Court of Shanghai in April 2020 ((2020) 16398 in Shanghai and 0115 early Republic of China). Ninety-three point seven nine Ten thousand yuan and overdue interest losses. Up to now, the case has not yet been tried, and it is impossible to judge the specific impact on the company's profits and losses. The company will fulfill its obligation of information disclosure in accordance with the progress of litigation.

(regarding the related matters in this announcement, see the company in December 18, 2019 and April 2020 8, published in the Shanghai Securities Journal, Hongkong Wen Wei Po and Shanghai stock exchange website. Www.sse.com.cn Related announcements. )

Four. Reference documents

1, "Shanghai first intermediate people's court civil judgment" (2020) Shanghai 01 people's final 1202.

The company's designated media for information disclosure is 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

Two May 19th two