Securities code: China Aluminum International Engineering Corporation Limited(601068) securities abbreviation: China Aluminum International Engineering Corporation Limited(601068) Announcement No.: pro 2022015 China Aluminum International Engineering Corporation Limited(601068)
Announcement on litigation involving wholly-owned subsidiaries
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
Important content tips:
The litigation stage of the case: the people’s Court of Tianjin Binhai New Area has been mediated;
The party status of the listed company: the plaintiff China Aluminum International Engineering Corporation Limited(601068) (Tianjin) Construction Co., Ltd. (hereinafter referred to as Tianjin Construction) is a wholly-owned subsidiary of China Aluminum International Engineering Corporation Limited(601068) (hereinafter referred to as the company);
Amount involved in the case: the amount involved in the lawsuit of Tianjin construction includes requiring the defendant to repay the principal of RMB 6364311479, interest of RMB 728360105 temporarily, case litigation fees and preservation fees;
Whether it will have a negative impact on the profits and losses of the listed company: since the mediation agreement reached in this case has not been fulfilled, it is not possible to judge the impact of this lawsuit on the company’s current profits or future profits.
1、 Parties to this lawsuit
Plaintiff: Tianjin Construction
Domicile: W24, West Zone, business park, Tianjin pilot free trade zone (Airport Economic Zone)
Legal representative: Li Huaguo
Defendant: Tianjin Jizhou New Town Construction Investment Co., Ltd. (hereinafter referred to as new town construction)
Address: No. 1-20, Xianglin Road, zhouhewan Town, Jizhou District, Tianjin
Legal representative: Gao Jianguang
2、 Basic facts of this lawsuit
On December 10, 2020, Tianjin Construction and new town construction signed relevant contracts. In order not to affect the project construction progress of both parties, it is agreed that Tianjin construction will first invest RMB 6364311479 into the project construction, with a period from December 10, 2020 to September 30, 2021. The new town construction will return the principal and interest on schedule. As of the date of Tianjin Construction lawsuit, Xincheng construction failed to pay the principal and interest on time as agreed. According to the agreement of both parties, if the new town construction fails to pay the overdue payment, the interest on the amount owed shall be calculated and charged according to the annualized interest rate of 10%. The new town construction shall pay the principal owed to Tianjin Construction and pay the interest according to the annualized interest rate of 10%.
As the new town construction failed to repay the principal and interest as agreed, Tianjin Construction recently filed a lawsuit with the people’s Court of Tianjin Binhai New Area in Tianjin. The people’s Court of Tianjin Binhai New Area issued the notice of accepting the case ((2022) Jin 0116 min Chu No. 2322) and accepted the lawsuit of Tianjin construction. The specific contents of the lawsuit are as follows:
(I) request to order the new town construction to repay RMB 6364311479, and pay the interest from December 10, 2020 to the date of actual payment based on RMB 6364311479, with an annualized standard of 10%, temporarily totaling RMB 728360105 (the above total is RMB 7092671584);
(II) order that the litigation costs and preservation costs of this case shall be borne by Xincheng construction.
Tianjin Construction submitted an application for litigation property preservation to the people’s Court of Binhai New Area of Tianjin, applying for preservation measures for the property of Xincheng construction. The amount of preservation object is bank deposit of RMB 7092671584 or equivalent property, including but not limited to sealing up, detaining and freezing Xincheng China Construction Bank Corporation(601939) account, real estate or other equivalent property according to law, The people’s Court of Tianjin Binhai New Area issued the civil ruling ((2022) Jin 0116 min Chu No. 2322), which ruled to freeze the bank deposit of 7092671584 yuan for the construction of the new city or seal up and detain other equivalent properties.
During the trial of the case, Tianjin Construction and new town construction reached a settlement, and the people’s Court of Tianjin Binhai New Area recently issued the civil mediation statement ((2022) Jin 0116 min Chu No. 2322), the main contents of which are as follows:
(I) Tianjin Construction and new town construction confirmed that as of February 28, 2022, new town construction owed Tianjin construction principal of RMB 6364311479 and corresponding interest of RMB 620154151 (calculated at an annual interest rate of 6.5% from December 10, 2020 to September 30, 2021 and 10% from October 1, 2021 to February 28, 2022), RMB 6984465630 in total;
(II) Xincheng construction agrees that the amount of RMB 1573000000, which has been sealed up by the people’s Court of Tianjin Binhai New Area, will be used to pay the amount owed to Tianjin construction, including the repayment of the principal of RMB 927559279, the interest of RMB 620154151 as of February 28, 2022, and the payment of legal fees of RMB 19821700, preservation fees of RMB 500000 The cost of litigation preservation liability insurance is 4964870 yuan. After the above payment, the interest has been paid off as of February 28, 2022, and the remaining unpaid principal is RMB 5436752200. The actual payment time is the day when the court unsealed. The interest from March 1, 2022 to the actual payment date is calculated at the annual interest rate of 6.5% based on RMB 157300000;
(III) from March 1, 2022, Tianjin Construction and Xincheng construction agree that the interest on the arrears shall be calculated at the annualized interest rate of 6.5%, and Xincheng construction shall pay off all the principal and interest of the arrears before August 31, 2023. The details are as follows: 1 The principal and interest of the new town construction will be repaid before March 31, 2022, totaling 639000000 yuan, including 30430710 yuan of interest and 608569290 yuan of principal; 2. The construction of the new city will repay RMB 1000000000 before November 30, 2022, including interest of RMB 212708280 and principal of RMB 787291720; 3. The construction of the new city will repay RMB 1000000000 before February 28, 2023, including interest of RMB 65664482 and principal of RMB 934335518; 4. The construction of the new city will repay RMB 1000000000 before May 31, 2023, including interest of RMB 51603341 and principal of RMB 948396659; 5. Before August 31, 2023, the new town construction will repay the remaining principal and interest of RMB 2194008432, including interest of RMB 35849419 and principal of RMB 2158159013.
If the defendant’s actual payment time is earlier than the agreed latest time, the interest shall be calculated according to the actual payment time;
(IV) if the new town construction fails to pay any installment in time and in full as agreed above, Tianjin construction has the right to apply to the people’s court for enforcement of the remaining principal and interest of arrears, litigation fees, preservation fees and double debt interest during the period of delay, and require the new town construction to pay off all the money at one time;
(V) Xincheng construction voluntarily bears the case acceptance fee, preservation fee and litigation preservation liability insurance fee paid by Tianjin construction, totaling RMB 25286570.
3、 The impact of the lawsuit announced this time on the company’s current profit or post period profit
As the mediation agreement reached in this case has not been fulfilled, the impact on the company’s current profits or future profits cannot be judged. The company will timely perform the obligation of information disclosure according to the progress of the lawsuit. Please pay attention to the investment risk.
It is hereby announced.
China Aluminum International Engineering Corporation Limited(601068) board of directors March 15, 2022
Filing documents
(I) civil complaint
(II) application for preservation of litigation property
(III) Notice of case acceptance ((2022) Jin 0116 min Chu No. 2322)
(IV) civil ruling ((2022) Jin 0116 min Chu No. 2322)
(V) civil mediation statement ((2022) Jin 0116 min Chu No. 2322)
