Shandong Hiking International (SHA:600735) said the assets of subsidiary Qingdao Hengfu Knitwear & Garment were frozen amid an equity transfer lawsuit, according to a Thursday filing with the Shanghai bourse.
A 75% equity in Qingdao Hengfu Knitwear & Garment held by Xinhua Jin Textile has been judicially frozen and real estate under Qingdao Hengfu Knitwear & Garment's name has been judicially sealed.
The case has been transferred to the Qingdao Intermediate Court and has yet to be heard.
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