oma International Engineering Co., Ltd. (Stock code: 600970, stock abbreviation: Sinoma International) announced on July 16 that the construction contract dispute between the company and Guangxi Jinxiang Cement Co., Ltd. (Hereinafter referred to as "Guangxi Jinxiang") has entered the execution stage. The Intermediate People's Court of Laibin City, Guangxi Zhuang Autonomous Region has formally accepted the company's application for enforcement.
The announcement shows that the case originated from a construction contract dispute between Sinoma International and Jinxiang, Guangxi, involving a 90458 of 0.09 million yuan (about 905 million yuan). Sinoma International first disclosed the major litigation on November 1, 2025, and disclosed the first instance judgment on April 2, 2026. As Guangxi Jinxiang failed to fulfill its payment obligations after the judgment of the first instance came into effect, Sinoma International applied to the Laibin Intermediate Court for compulsory execution after the expiration of the performance period. On July 14, 2026, the Company received the Notice of Case Acceptance ( (2026) Gui 13 Zhi No.201) served by Laibin Intermediate People's Court. After examination, the court considered that the application met the statutory acceptance conditions and decided to file a case for execution.
Regarding the impact of the case on the company's finance, Sinoma International said that by the end of June 2026, the company had made a cumulative provision for impairment of 51.6647 million yuan for the receivables involved in the above-mentioned litigation matters in accordance with the Accounting Standards for Enterprises. Due to the uncertainty of the final execution result of this litigation case, it is impossible to accurately judge the specific impact on the company's profits in 2026 and beyond. The company will fulfill the obligation of information disclosure in a timely manner in accordance with relevant regulations.
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