Recovery of 905 million yuan of project funds! Sinoma International Sues Guangxi Jinxiang Cement!

On November 1, China National Materials International Engineering Co., Ltd. announced that it had filed a civil lawsuit with the Intermediate People's Court of Laibin City, Guangxi Zhuang Autonomous Region, for a construction contract dispute with Guangxi Jinxiang Cement Co., Ltd. The amount involved in the case amounted to 90458 0.09 million yuan (about 905 million yuan) . At present, the court has formally accepted the case, and the case is in the stage of acceptance. The screenshot of

the

announcement shows that on May 9, 2021, Sinoma International and Guangxi Jinxiang signed the EPC General Contract for the 2 * 6000t/d Clinker Cement Production Line and the 6 million tons per year Aggregate Line of Guangxi Jinxiang Cement Co., Ltd. The contract amount is 1.9369 billion yuan. On August 20,

2024, the two sides confirmed that the final settlement price of the project was 1.9595 billion yuan (excluding interest). Sinoma International said that it had fulfilled all its contractual obligations in accordance with the contract, but as of the date of the lawsuit, Guangxi Jinxiang still owed the principal of the project 85463 0.36 million yuan and the corresponding interest.

According to the lawsuit request, Sinoma International requests Guangxi Jinxiang to pay the 85463 of the outstanding project payment of 0.36 million yuan and the interest temporarily calculated to September 30, 2025 of 49.9473 million yuan, with a total 90458 of 0.09 million yuan (the interest will be calculated to the date of actual liquidation); At the same time, it requests that the discount or auction price of the project involved in the case enjoy the priority of compensation within the scope of the project price of 85463 360000 yuan, and that Jinxiang of Guangxi bear the costs of case acceptance and preservation.

In order to ensure the realization of creditor's rights, Sinoma International has filed an application for property preservation to Laibin Intermediate Court, and the court has accepted the application . At present, the company has submitted property clues, requesting the court to take measures such as seizure, seizure and freezing.

In addition, on July 10, 2025, Sinoma International filed a pledge contract dispute lawsuit with Nanjing Intermediate People's Court on the guarantee liability of the above-mentioned unpaid project funds. The defendants are Hangzhou Langshan Building Materials Group Co., Ltd., Liu Jinzhen and Henan Jinrong Cement Co., Ltd. The lawsuit request is to order the defendant to assume the guarantee liability for the creditor's rights such as the project price and interest of 774.76 million yuan owed by Guangxi Jinxiang.

According to the previous release of cement network APP, the 2 * 6000t/d clinker project of Guangxi Jinxiang Cement, located in Sanjiangkou New District, Laibin City, Guangxi, has been ignited and put into operation in the second half of 2022. Data Map