Securities code: Maoming Petro-Chemical Shihua Co.Ltd(000637) securities abbreviation: Maoming Petro-Chemical Shihua Co.Ltd(000637) Announcement No.: 2022044 Maoming Petro-Chemical Shihua Co.Ltd(000637)
Announcement on litigation involving holding subsidiaries
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、 Acceptance of this lawsuit
Maoming Petro-Chemical Shihua Co.Ltd(000637) (hereinafter referred to as “the company”) holding subsidiary Zhanjiang Shihua Chemical Co., Ltd. (hereinafter referred to as “Zhanjiang Shihua”) recently received the summons and civil case response notice from the people’s Court of Zhanjiang Economic and Technological Development Zone (hereinafter referred to as “Zhanjiang court”) [case No.: (2022) Yue 0891 minchu No. 930], the cause of action is “construction contract dispute”; Opening date: May 23, 2022. Meanwhile, the Zhanjiang court issued a civil ruling [(2022) Yue 0891 min Chu No. 930] on the case, ruling to seal up, detain or freeze the property with a value limit of 3139668586 yuan under the name of Zhanjiang Shihua. At present, the account funds of Zhanjiang Shihua have been frozen. 2、 Basic information about the case
1. Parties to the case
Plaintiff: China National Chemical Engineering Co.Ltd(601117) Engineering Fourth Construction Co., Ltd
Address: No. 279, East Yueyang Avenue, economic development zone, Yueyang City, Hunan Province
Defendant: Zhanjiang Shihua Chemical Co., Ltd
Address: No. 2901, fufuhui financial center, 27 Leshan Road, Zhanjiang Economic Development Zone
2. Claims: (1) order the defendant to pay the plaintiff the overdue project payment of 3103592609 yuan and liquidated damages according to law. (2) Order the defendant to return 100000 yuan of safety deposit to the plaintiff according to law; (3) The litigation fee, preservation fee, insurance premium and appraisal fee of this case shall be borne by the defendant.
3. Facts and reasons:
Located in Zhanjiang East Island Petrochemical Industrial Park, the defendant invested in the construction of 300000 t / a hydrogen peroxide, 140000 T / a cracked C9 and cracked tar comprehensive utilization project installation project (bid section III). After bidding procedures, the plaintiff became the successful construction unit. On July 30, 2021, the project was officially handed over after completion acceptance. Since the defendant took over, it has been in normal use. (I) contract signing and provisional pricing
On November 9, 2019, the plaintiff and the defendant officially signed the construction contract. Both parties reached an agreement on the construction and related matters of the project. The contracting method is to install engineering equipment and main materials (except thermal insulation materials and paint). The defendant is responsible, and the plaintiff is responsible for labor, machinery, thermal insulation materials, main and auxiliary materials of paint, management fees and taxes required for the installation project. The tentative total contract price is 45 million yuan. In addition, the supplementary agreement II of the construction contract adds another 290000 yuan of node reward and the installation of external pipe gallery of steel structure.
Due to the continuous increase of the main quantities, the actual construction quantities of the plaintiff have increased significantly compared with the quantities agreed in the main contract. In order to further clarify the quantities and total cost, on April 7, 2021, the plaintiff and the defendant signed supplementary agreement III to the construction contract, which increased the construction scope of the plaintiff, and adjusted the provisional total contract price from 45 million yuan to 51.25 million yuan. In January 2022, the plaintiff and the defendant signed supplementary agreement IV to the construction contract, adjusting the provisional total contract price from 51.25 million yuan to 64.66 million yuan.
In addition to the above projects, the defendant contracted the public pipe gallery project connected with the project to the plaintiff. The plaintiff and the defendant signed the construction cost contract of the island joint project of 4020000 yuan in January 2021, and the plaintiff and the defendant provided the public joint project of 4020000 yuan to the defendant. (II) submission of project completion acceptance and settlement data
On April 7, 2020, the plaintiff entered the site for construction. On December 30, 2020, the plaintiff, the defendant, the supervision unit and the design unit jointly signed the intermediate handover certificate of the project. On July 30, 2021, the project was officially handed over. On August 17, 2021, the plaintiff submitted the project settlement data to the defendant, and the project submission price was 7974813347 yuan. On August 18, 2021, the defendant received the express. On August 20, 2021, the design unit and the supervision unit accepted the project, and on August 30, 2021, the defendant accepted the project.
(III) about the total project price and the amount of project payment owed
According to the construction contract, the defendant shall complete the approval of the completion settlement application amount submitted by the plaintiff before September 15, 2021, but the defendant failed to complete the approval within the agreed time. From September 16, 2021, it shall be deemed that the defendant recognizes the amount of the completion settlement application submitted by the plaintiff and that the defendant has issued the completion payment certificate. Therefore, the total price of the project involved should be 7974813347 yuan. As of January 27, 2022, the defendant only paid 4871220738 yuan to the plaintiff. The remaining project payment has been overdue for more than 56 days, and the defendant should pay liquidated damages. In addition, the plaintiff paid 100000 yuan of security deposit to the defendant on May 8, 2020, which should be refunded in full.
3、 Other undisclosed litigation and arbitration matters
As of the date of this announcement, the company and its holding subsidiaries have no other major litigation and arbitration matters that should be disclosed but not disclosed.
4、 Possible impact of this lawsuit on the company’s current profits or future profits
The case has not been heard yet, and its impact on the company’s profits in the current period or after the period is uncertain. The company will timely perform the obligation of information disclosure according to the progress of the lawsuit. In view of the fact that Zhanjiang Shihua’s bank account has been legally frozen, the capital flow has been affected, and there are problems affecting normal production and operation, the company is actively responding to litigation, communicating and cooperating, and striving to solve judicial freezing and litigation disputes as soon as possible. Investors should pay attention to investment risks.
5、 Documents for future reference
1. Summons of the people’s Court of Zhanjiang Economic and Technological Development Zone, notice of response to civil cases and civil ruling;
2. Civil complaint.
It is hereby announced.
Maoming Petro-Chemical Shihua Co.Ltd(000637) board of directors April 25, 2022
