Securities code: 300426 securities abbreviation: Zhejiang Talent Television & Film Co.Ltd(300426) Announcement No.: 2022-005 Zhejiang Talent Television & Film Co.Ltd(300426)
Announcement on the progress of cumulative litigation and Arbitration
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records
Contains, misleading statements or material omissions.
Zhejiang Talent Television & Film Co.Ltd(300426) (hereinafter referred to as “the company” or ” Zhejiang Talent Television & Film Co.Ltd(300426) “) disclosed the cumulative litigation and arbitration of the company and its holding subsidiaries on June 27, 2019. For details, please refer to the company’s website at http://www.cn.info.com.cn And the announcement on cumulative litigation and Arbitration (Announcement No.: 2019-072) disclosed on the information disclosure website designated by the China Securities Regulatory Commission on the gem.
In order to facilitate investors to timely understand the company’s litigation and arbitration, the company announces the progress of the above cases as follows:
1、 Basic information and progress of this litigation
Case 1, Zhejiang Talent Television & Film Co.Ltd(300426) v. Gao Yunxiang and Beijing Yixuan culture brokerage Co., Ltd. dispute over performance contract
On November 23, 2018, due to the performance contract dispute with Gao Yunxiang (defendant 1) and Beijing Yixuan cultural brokerage Co., Ltd. (defendant 2), the company (plaintiff) filed a lawsuit with Beijing No. 1 Intermediate People’s court to request a judgment to terminate the performance contract, and the above two defendants shall jointly compensate the plaintiff for the loss of liquidated damages, interest and lawyer’s fees, and bear all litigation costs. For details, please refer to the announcement on cumulative litigation and Arbitration (Announcement No.: 2019-072).
On January 14, 2022, the company received the civil judgment [(2019) Jing 01 min Chu No. 7] made by Beijing No. 1 Intermediate People’s Court on January 12, 2022. The main contents of the judgment are as follows:
1、 Confirm that the employment contract for actors of TV series “Anaya love” signed by the plaintiff and the defendant 1 is terminated on May 15, 2019;
II The defendant 1 shall compensate the plaintiff for the loss of 48.85 million yuan and interest loss within 10 days after the effectiveness of this judgment (based on RMB 48.85 million, from May 15, 2019 to August 19, 2019, calculated according to the similar loan interest rate of the people’s Bank of China in the same period; from August 20, 2019 to the date of actual payment, calculated according to the loan market quotation interest rate published by the National Interbank Funding Center in the same period);
3、 The defendant 1 shall pay a penalty of 150000 yuan to the plaintiff within 10 days after the effectiveness of this judgment;
4、 The defendant 1 shall pay 420000 yuan of lawyer’s fee to the plaintiff within 10 days after the effectiveness of this judgment;
5、 The defendant 2 shall be jointly and severally liable for the payment obligations of the defendant 1 confirmed in the judgments 2, 3 and 4 above;
6、 Reject other claims of the plaintiff.
If you refuse to accept this judgment, you may appeal to the Beijing Higher People’s court within 15 days from the date of service of the judgment.
2、 Other undisclosed litigation and arbitration matters of the company
At present, the company and its holding subsidiaries have no other major litigation and arbitration matters that should be disclosed but not disclosed.
3、 Possible impact of this lawsuit on the company’s profits in the current period or after the period
For this lawsuit, the company will reduce the production cost of the company’s TV drama “Anaya romance” (calculated in the inventory account of the balance sheet) according to the actor’s remuneration, brokerage service fee and other compensation obtained due to the termination of the contract, and will increase the gross profit of the sales of such TV dramas in the accounting period when the sales of such TV dramas are realized and the revenue is recognized in the future; Interest loss compensation, liquidated damages and other compensation shall be included in the current profit and loss according to the amount of compensation actually received.
The company will carry out corresponding accounting treatment according to the requirements of relevant accounting standards and the actual situation, and will timely perform the obligation of information disclosure on the progress of the litigation in strict accordance with the relevant requirements of the Listing Rules of GEM stocks of Shenzhen Stock Exchange. Please invest rationally and pay attention to investment risks.
It is hereby announced.
Zhejiang Talent Television & Film Co.Ltd(300426) board of directors
January 17, 2022
