On June 12, Lanfeng Biochemical announced that the dispute over the sales contract between Xuhe Technologies, a holding subsidiary of the company, and Jiangsu Yuhui Sunshine New Energy Co., Ltd. (Hereinafter referred to as "Jiangsu Yuhui") was settled through court mediation.
According to the Civil Mediation Letter, Xuhe Science and Technology should pay Jiangsu Yuhui 1.85 million yuan by June 19, 2026, and bear part of the case acceptance fee. The total payable amount is 195.
an advance payment of 3 million yuan to it for the deduction of subsequent payment for goods.
However, the cooperation has not progressed smoothly. In September 2025, Jiangsu Yuhui filed a lawsuit on the grounds that some products of Xuhe Science and Technology were not delivered on time, demanding that Xuhe Science and Technology refund the undeducted advance payment and withdrawal payment totaling about 1.9031 million yuan.
In the face of the lawsuit, Xuhe Science and Technology immediately filed a counterclaim, claiming that Jiangsu Yuhui failed to pick up the goods and pay for the goods in time as agreed in the contract, resulting in the economic losses of Xuhe Science and Technology, and requesting the rescission of the Purchase Contract and the Change Agreement.
By January 2026, the court of first instance ruled that the cooperation agreement between the two parties was terminated on October 16, 2025, and ordered Xuhe Science and Technology to return 190
. Xuhe Science and Technology said it refused to accept the verdict and appealed, thus the case entered the second instance stage . Until June 12 this year, the two sides reached a settlement under the mediation of the court.
By June 12, 2026, the two sides reached a settlement through court mediation.
It is worth noting that Xuhe Technology is the main company of Lanfeng Biochemical Cross-border Photovoltaic. According to
the company's official website, Lanfeng Biochemical was founded in 1976 and successfully listed in 2010. It was originally an enterprise focusing on agrochemical products. However, after the listing, Lanfeng Biochemical's operating performance has been under constant pressure, and even suffered huge losses in 2018 and 2019, with a total loss of nearly 1.4 billion yuan in two years.
In order to reverse the decline and tap the new growth curve, Lanfeng Biochemical will focus on the popular photovoltaic track. In October 2023, Lanfeng Biochemical was 6752.
But at that time, the photovoltaic industry had entered a downward cycle, and the cross-border layout did not meet expectations.
Financial data show that from 2023 to 2025, Lanfeng Biochemical again accumulated a loss of 775.3 million yuan ; By the first quarter of 2026, Lanfeng Biochemical will continue to lose 1484.
However, it is worth mentioning that although the cross-border pursuit did not bring high performance growth to Lanfeng Biochemical, it was disclosed by ." Founded in July 2022 and located in Chuzhou, Anhui Province, Xuhe Technology now has 5G W high-efficiency N-type batteries and 2GW ". The official website of Xuhe Science and Technology also shows that the company is building production bases in Yunnan, Jilin and Inner Mongolia, and developing new energy resources such as photovoltaic and wind power in the southwest, northwest, northeast and East China .
In the 2025 report, Lanfeng Biochemical said it would continue to build a new energy industry chain with photovoltaic as the main body .
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