On November 5, Chow Tai Seng Jewellery Co., Ltd. announced that a portion of its bank account funds had been frozen due to a contractual dispute with Shuibei Ka Company. The lawsuit has now concluded with a final judgment issued by the Shenzhen Intermediate People's Court. The company has received the "Civil Ruling" from the Luohu Court, which orders the release of the previously frozen bank account funds amounting to 70.24897923 million yuan (approximately 70.249 million yuan). The freezing of the account funds did not materially impact the company's core operations, and the funds have now been restored for normal use.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments