Securities code: 002638 securities abbreviation: Dongguan Kingsun Optoelectronic Co.Ltd(002638) Announcement No.: 2022-013 Dongguan Kingsun Optoelectronic Co.Ltd(002638)
Announcement on the progress of the company’s participation in the lawsuit as a third party
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
1、 Basic information of litigation matters
Dongguan Kingsun Optoelectronic Co.Ltd(002638) (hereinafter referred to as “the company” and ” Dongguan Kingsun Optoelectronic Co.Ltd(002638) “) participated in the case of equity transfer dispute between Beijing Longwen Global Education Technology Co., Ltd. (hereinafter referred to as “Longwen global”) and Yang Yong, which was sued by Huaxia Life Insurance Co., Ltd. (hereinafter referred to as “Huaxia life”) to Beijing Higher People’s court in September 2019. Huaxia life has applied to the Beijing Higher People’s court for property preservation and frozen 82081128 shares of the company held by Yang Yong on August 1, 2018. As Huaxia life, Yang Yong and Longwen global are the performance commitment persons of the company’s acquisition of Guangzhou Longwen and need to bear the performance compensation liability or relevant joint and several liability, the aforesaid share freeze may have a significant adverse impact on Yang Yong’s performance commitment compensation to the company.
On July 2, 2020, the company received the civil judgment ([2018] JMC No. 146) served by the Beijing Higher People’s court. The Beijing Higher People’s court ruled that: ① Longwen global will pay the performance compensation of Huaxia life insurance 365297516.57 yuan within 10 days from the effective date of this judgment, Interest and payment (the interest of 95297516.57 yuan is calculated from January 1, 2017 to August 19, 2019, and the interest of 270 million yuan is calculated from July 12, 2018 to August 19, 2019 according to the benchmark interest rate of one-year loan of the people’s Bank of China in the same period; from August 20, 2019 to the date of payment, it is calculated according to the one-year benchmark interest rate published by the National Interbank Funding Center One year loan market quotation (interest rate calculation); ② Reject other claims of Huaxia life insurance; ③ Reject the claim of Dongguan Kingsun Optoelectronic Co.Ltd(002638) . Huaxia life has appealed against the judgment of first instance. According to the judgment of the first instance, the Beijing Higher People’s court rejected the lawsuit request of Huaxia life insurance for Yang Yong to bear the guarantee liability. This result is conducive to the company’s promotion of performance commitment compensation.
On June 10, 2021, the company received the civil judgment ([2020] supreme law Minzhong No. 1250) served by the Supreme People’s Court of the people’s Republic of China (hereinafter referred to as the “court”). The court ruled: ① maintain items 1 and 3 of Beijing Higher People’s court’s (2018) jingminchu No. 146 civil judgment; ② Change the second item of Beijing Higher People’s court’s (2018) jingminchu No. 146 civil judgment as: Yang Yong paid 270 million yuan and interest in the performance compensation payable by Longwen global to Huaxia life insurance within 10 days from the effective date of this judgment (from
From July 12, 2018 to August 19, 2019, it shall be calculated according to the benchmark interest rate of one-year loan of the people’s Bank of China in the same period, and from August 20, 2019 to the date of actual payment, it shall be calculated according to the market quotation interest rate of one-year loan published by the national interbank lending center) and bear the joint repayment liability; For 95297516.57 yuan and the interest from January 1, 2017 (from January 1, 2017 to August 19, 2019, calculated according to the one-year loan benchmark interest rate of the people’s Bank of China in the same period, and from August 20, 2019 to the date of actual payment, calculated according to the one-year loan market quotation interest rate published by the national interbank lending center), Bear the liability for compensation within the range of 76.8% equity value of Longwen global held by it; ③ Reject other claims of Huaxia life insurance. The aforesaid judgment changed the second item of the first instance judgment and required Yang Yong to bear the liability for compensation. This result may have a significant adverse impact on Yang Yong’s performance commitment compensation to the company, and the company has applied for retrial.
For details, please refer to the announcement on participating in litigation as a third party, the progress announcement on participating in litigation as a third party and the progress announcement on participating in litigation as a third party published by the company in the designated information disclosure media on September 24, 2019, July 3, 2020 and June 15, 2021. 2、 Progress of litigation matters
On February 9, 2022, the company received the civil ruling served by the Supreme People’s Court of the people’s Republic of China ([2021] supreme law min Shen No. 6319). The court held that the company’s retrial application did not meet the conditions that should be retrial stipulated in article 200 of the civil procedure law of the people’s Republic of China, and the court ruled that the company’s retrial application was rejected.
3、 Impact of this judgment on the company
1. The company participated in the lawsuit as a third party. According to the final judgment of the case, the company is not required to bear any responsibility. However, the judgment may have a significant adverse impact on Yang Yong’s performance commitment compensation to the company, thus indirectly affecting the rights and interests of the company.
2. In order to protect the rights and interests of the company, the company has filed a lawsuit to Shenzhen intermediate people’s Court on the compensation for the performance commitments to be performed by Yang Yong, Huaxia life and Longwen global in September 2019, and has carried out pre litigation property preservation on the relevant shares of the company held by the defendant, among which, The company has waited to freeze 82081128 shares of the company held by Yang Yong. At present, the case is suspended due to the takeover of Huaxia life by relevant regulatory authorities, and the trial will be resumed after the cause of suspension is eliminated. The company will continue to urge relevant parties to implement relevant performance commitment compensation matters as soon as possible by actively participating in litigation or seeking consultation.
It is hereby announced.
Dongguan Kingsun Optoelectronic Co.Ltd(002638) board of directors February 11, 2022
