Securities code: 600198 securities abbreviation: * ST Datang Announcement No.: 2022-006 Datang Telecom Technology Co.Ltd(600198)
Announcement on the progress of major litigation and arbitration of the company
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:
Litigation (Arbitration) stage of the case: the execution procedure has been terminated
Party status of the company: applicant for execution
Amount involved: 268926600.00 yuan
Whether it will have a negative impact on the profits and losses of listed companies: Based on the principle of prudence, historically, the company has accrued some impairment losses related to creditor’s rights; The recovery and termination of the execution procedures will not have a negative impact on the company’s profits and losses as a whole.
On April 7, 2017, Datang Telecom Technology Co.Ltd(600198) (hereinafter referred to as “the company”) signed the property right transaction contract with the respondent Zhou Hao, Chen Yong, the outsider Datang Telecom Investment Co., Ltd. and the outsider Beijing Hongtian growth Asset Management Co., Ltd, It is agreed that the company will transfer its 21.2% equity of Guangzhou yaoplay Entertainment Network Technology Co., Ltd. (hereinafter referred to as “yaoplay company”) to Zhou Hao, Chen Yong, Datang Telecom Investment Co., Ltd. and Beijing Hongtian growth Asset Management Co., Ltd. Among them, Zhou Hao and Chen Yong respectively transferred 10% equity of the company to play. In addition, Zhou Hao and Chen Yong, as guarantors respectively, shall be jointly and severally liable for the debts of the other party. Since Zhou Hao and Chen Yong still have 85.26 million yuan of equity transfer payment unpaid so far, the company filed an arbitration with Beijing Arbitration Commission to request an award that Zhou Hao and Chen Yong pay the remaining 85.26 million yuan of equity transfer payment and 13.522 million yuan of interest during the deferred payment period to the company respectively (temporarily until July 22, 2020) The penalty for overdue payment is 35.6813 million yuan (tentatively until July 22, 2020), totaling 268.9266 million yuan; Request for an award, Zhou Hao and Chen Yong shall bear joint and several liability for the above debts of the other party, and bear the arbitration fee, preservation fee and lawyer’s fee of the case. The company received the award served by Beijing Arbitration Commission on February 8, 2021, which ruled that Zhou Hao and Chen Yong should pay the company: (1) the remaining equity transfer amount of 85260000 yuan; (2) The deferred payment interest temporarily calculated to July 22, 2020 is 12797888.79 yuan; And pay the deferred payment interest calculated according to the one-year LPR published price standard of the National Interbank Funding Center from July 23, 2020 to the date of actual payment, based on 85260000 yuan; (3) Liquidated damages for overdue payment based on 85260000 yuan and calculated at the standard of 11% annual interest rate from January 1, 2020 to the date of actual payment; The liquidated damages for overdue payment temporarily calculated to July 22, 2020 is 5241738.08 yuan. The Beijing Arbitration Commission also ruled that Zhou Hao and Chen Yong paid the company 100000 yuan of lawyer’s fee and 1461844.70 yuan of arbitration fee in this case, and rejected other arbitration requests of the company. As Zhou Hao and Chen Yong failed to perform their payment obligations in accordance with the arbitration award, the company applied to Zhuhai intermediate people’s Court of Guangdong Province for enforcement. See Datang Telecom Technology Co.Ltd(600198) announcement on litigation and Arbitration (Announcement No.: 2020-049) disclosed by the company on August 15, 2020, semi annual report of Datang Telecom Technology Co.Ltd(600198) 2020 disclosed on August 28, 2020, announcement on progress of major litigation and arbitration of the company (Announcement No.: 2021-010) disclosed on February 10, 2021 for details The announcement of Datang Telecom Technology Co.Ltd(600198) on the progress of major litigation and arbitration of the company (Announcement No.: 2021-018) disclosed on March 20, 2021, the annual report of Datang Telecom Technology Co.Ltd(600198) 2020 disclosed on April 29, 2021 and the semi annual report of Datang Telecom Technology Co.Ltd(600198) 2021 disclosed on August 28, 2021.
The company received the execution ruling served by Zhuhai intermediate people’s Court of Guangdong Province on January 18, 2022. Because Zhou Hao and Chen Yong have no property for execution, the court ruled to terminate the execution procedure. The amount payable to the company by Zhou Hao and Chen Yong is 14728379.84 yuan. After the court ruled to terminate this execution procedure, Zhou Hao and Chen Yong still have the obligation to continue to perform their debts to the company. Once the company finds that Zhou Hao and Chen Yong have property available for execution, it can apply for execution again. The follow-up company will disclose the progress of the case in a timely manner.
It is hereby announced.
Datang Telecom Technology Co.Ltd(600198) board of directors January 20, 2022
