Zhejiang Jindun Fans Co.Ltd(300411) 3 announced on March 6 that it had recently received a notice from the people’s Procuratorate of Zhejiang Province. Because the company refused to accept the civil judgment of the higher people’s Court of Zhejiang Province on the case of China finance investment promotion and the case of Jinyao, it applied to the people’s Procuratorate of Zhejiang Province for procuratorial supervision. The people’s Procuratorate of Zhejiang Province has decided to lodge a protest, It has been reported to the Supreme People’s Procuratorate on March 1, 2022.
The plaintiffs in this case were Zhongcai Investment Promotion Group Co., Ltd. and Jinyao, which were caused by the forgery of the company seal for external guarantee. The two plaintiffs filed a lawsuit with the Hangzhou intermediate people’s court in April 2018, which was rejected twice. The Zhejiang high court made a final judgment in April 2020, finding that the guarantee was invalid, but ruling that the company should bear 1 / 3 and 1 / 2 of the liability for compensation. The company refused to accept the second instance judgment of Zhejiang high court and applied to the Supreme People’s court for retrial. The Supreme Court ruled to reject the company’s retrial application in December 2020.
The company refused to accept the judgment and applied to the Zhejiang Provincial People’s Procuratorate for procuratorial supervision according to law, requesting the Supreme People’s Procuratorate to lodge a protest to the Supreme Court according to law, requesting to revoke the civil judgment made by the Zhejiang high court, change the judgment, reject the prosecution of the plaintiffs in the two cases or reject their claims. In May 2021, Zhejiang Provincial People’s Procuratorate accepted the company’s application for procuratorial supervision.
Zhejiang Jindun Fans Co.Ltd(300411) said that in the 2019 annual report and 2020 annual report, an estimated liability of about 130 million yuan has been accrued for the China finance investment promotion case and Jinyao case. If the China finance investment promotion case and Jinyao case are protested by the Supreme People’s Procuratorate to the Supreme People’s court and the Supreme People’s court makes a judgment on reducing or not bearing compensation liability after hearing, it will help to increase the company’s profits in the current period or later period.
