On September 28, Dongfang Risheng announced that the two-year arbitration case was finally awarded, and Dongfang Risheng was awarded more than 520 million yuan in compensation. Up
to 520 million disputes & nbsp; In the announcement
, Dongfang Risheng said that the International Chamber of Commerce International Court of Arbitration (ICC International Court of Arbitration) had made an award (final award), which was calculated by the company according to the ICC arbitration award. Award the S. A. Of $71.675 million (equivalent to about RMB 520 million) to the FOCUS FUTURA HOLDING PARTICIPA PARTICIPAÇÕES (hereinafter referred to as "FOCUS").
The arbitration case is accepted by the International Court of Arbitration of the International Chamber of Commerce, the applicant for arbitration is FOCUS, and the respondent for arbitration is Dongfang Risheng. Dongfang Risheng recalled the history of the case in the announcement. On December 16,
2020, FOCUS Yu Dongfang Risheng signed two MODULE SUPPLY AGREEMENT (Component Supply Agreement). It is agreed that the company will provide FOCUS with 400 MW and 470 MW photovoltaic modules, totaling 870 MW. After the signing of the
agreement, the two parties had a dispute over the performance of the component supply agreement. FOCUS submitted an arbitration application to ICC on July 14, 2021, and put forward the following arbitration request:
claiming that the losses suffered by FOCUS exceeded $70 million and would continue to increase. Request the arbitration tribunal to rule that Dongfang Risheng breaches the contract, compensate FOCUS for the losses caused by Dongfang Risheng's breach of contract, pay the interest before and after the ICC award, and bear all the arbitration costs. On July 24, 2021
, Dongfang Risheng received a notice from ICC informing FOCUS that it had submitted an arbitration application to it. In February
2023, the ICC heard the case and recently issued an award (26404 of Case No./PDP).
However, the dispute with a claim of up to 520 million yuan has been going on for more than two years since 2021, but Dongfang Risheng has never disclosed it before and has been questioned. On the day of
this year's performance or the best
day in history, Dongfang Risheng also announced its performance forecast for the first three quarters of this year. It is estimated that the net profit attributable to shareholders of listed companies in the first three quarters of this year will be 1.2 billion yuan to 1.38 billion yuan , up 60.56% to 84.65% year-on-year.
Dongfang Risheng said that compared with the same period last year, the current non-recurring gains and losses have a greater impact on the company's net profit. The impact of non-recurring gains and losses on the company's net profit in the current period is about-320 million yuan, mainly due to the fact that the company recently received the ruling of the International Court of Arbitration of the International Chamber of Commerce on the dispute over the FOCUS contract between the company and its customers.
According to the announcement, based on the principle of prudence, the listed company included all the above-mentioned 510 million yuan in non-operating expenses according to the ruling.
Looking back at the performance of Dongfang Risheng in the past few years: 160 million yuan in 2020, a loss of more than 40 million yuan in 2021, a net profit of 945 million yuan in 2022, and a historical best of 970 million yuan in 2019. It can be predicted that the annual performance probability of Dongfang Risheng in 2023 will be the best in the company's history.
Nevertheless, compared with the profits over the years, the compensation of more than 500 million yuan is still not a small amount, to take out this compensation, how to "dig down a piece of meat".
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