Securities code: Winall Hi-Tech Seed Co.Ltd(300087) securities abbreviation: Winall Hi-Tech Seed Co.Ltd(300087) Announcement No.: 2022048 Winall Hi-Tech Seed Co.Ltd(300087)
Progress announcement on litigation matters
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
Winall Hi-Tech Seed Co.Ltd(300087) (hereinafter referred to as “the company” and ” Winall Hi-Tech Seed Co.Ltd(300087) “) filed a lawsuit with Hefei intermediate people’s Court (hereinafter referred to as “Hefei intermediate people’s court”) for infringement of new plant variety rights with Hunan Longping Seed Industry Co., Ltd. (hereinafter referred to as “Hunan Longping”), requesting Hefei intermediate people’s court to judge Hunan Longping to stop the infringement and compensate the company for economic losses of 300 million yuan and rights maintenance expenses of 1 million yuan. Hunan Longping filed a counterclaim on the ground that the company infringed on its variety license. In this dispute, Anhui Higher People’s Court (hereinafter referred to as “Anhui high court”) agreed to upgrade its jurisdiction and try the case. In addition, Yuan Longping High-Tech Agriculture Co.Ltd(000998) (hereinafter referred to as ” Yuan Longping High-Tech Agriculture Co.Ltd(000998) “) filed a lawsuit on the dispute over the license contract for the implementation of new plant varieties with Hefei intermediate people’s Court on the ground of Winall Hi-Tech Seed Co.Ltd(300087) unilateral breach of contract, and Anhui Provincial High Court agreed to upgrade its jurisdiction to hear the case.
The above information is detailed in the announcement on cumulative litigation and arbitration matters (Announcement No.: 2021063), 2021 annual report and announcement on the progress of litigation matters (Announcement No.: 2022034 and 2022039) disclosed by the company.
2、 Progress of litigation matters
In order to safeguard its legitimate rights and interests, the company filed a counterclaim to Anhui Provincial High Court against the dispute over the implementation license contract of new plant varieties filed by Yuan Longping High-Tech Agriculture Co.Ltd(000998) on the grounds of Winall Hi-Tech Seed Co.Ltd(300087) unilateral breach of contract. On May 18, 2022, the company received the case acceptance notice served by Anhui Provincial High Court.
Due to the continuous violations of Yuan Longping High-Tech Agriculture Co.Ltd(000998) against Winall Hi-Tech Seed Co.Ltd(300087) by Yuan Longping High-Tech Agriculture Co.Ltd(000998) the company requests Anhui Provincial High Court: 1. Confirm according to law that the matching agreement on the use of conventional rice variety “Wushan silk seedling” signed by the company and Yuan Longping High-Tech Agriculture Co.Ltd(000998) has been terminated; 2. Order Yuan Longping High-Tech Agriculture Co.Ltd(000998) to compensate Winall Hi-Tech Seed Co.Ltd(300087) for the reasonable expenses incurred in this case of 1.3 million yuan (including lawyer’s fees, investigation fees, etc.); 3. Order Yuan Longping High-Tech Agriculture Co.Ltd(000998) to bear the litigation costs of this case.
4、 Other undisclosed litigation and arbitration matters
As of the disclosure date of this announcement, the amount involved in small claims and arbitration matters not disclosed by the company totaled 17.893 million yuan, accounting for 1.30% of the company’s latest audited net assets. The company has no other major litigation and arbitration matters that should be disclosed but not disclosed.
5、 The impact of this lawsuit on the company’s profits in the current period or after the period
As the lawsuit has not yet been heard in court, it is temporarily impossible to judge the impact on the company’s current or future profits. The company will timely perform the obligation of information disclosure according to the progress of the lawsuit. Please pay attention to the investment risk!
6、 Documents for future reference
1. Notice of Anhui Higher People’s Court on accepting cases (2022) Wan min Chu No. 3; 2. Civil counterclaim.
It is hereby announced
Winall Hi-Tech Seed Co.Ltd(300087) board of directors may 19, 2002
