Chenzhou Electric International's wholly owned subsidiary's lawsuit over project payments enters the prosecutor supervision stage

MaticHoleFiller · 2026-03-29T16:42:58+00:00

Hunan Chenzhou Electric International Development Co., Ltd.'s wholly owned subsidiary, Greui Environmental Protection, is currently in the supervision stage due to a contract dispute with the Provincial Fifth Engineering Corporation. After the first, second, and retrial, Greui Environmental Protection is required to pay approximately 1,025,400 yuan. The company stated that the outcome is still uncertain and will disclose information promptly and alert investors to risks.

MaticHoleFiller

2026-03-29 16:42:58

Abstract generation in progress

湖南郴电国际发展股份有限公司 (stock code: 600969, referred to as “Chengdian International”) recently announced that its wholly-owned subsidiary Hunan Chengdian Grey Environmental Technology Co., Ltd. (referred to as “Grey Environmental”) is involved in a construction engineering contract dispute that has entered the prosecutorial supervision stage at the Chenzhou Municipal People’s Procuratorate (referred to as “Municipal Procuratorate”). The case previously went through first instance, second instance, and retrial procedures, all concluding with Grey Environmental needing to pay relevant amounts to Hunan Fifth Engineering Co., Ltd. (referred to as “Fifth Engineering Company”).

The case originated from a construction contract signed between Grey Environmental and Fifth Engineering Company for the Chenzhou Second Wastewater Treatment Plant project in September 2015. The project was audited on December 7, 2021, and due to Fifth Engineering Company’s disagreement with the audit results and unsuccessful negotiations, a lawsuit was filed.

The litigation process is as follows:

First Instance: The Beihu District Court ruled in February 2023 that Grey Environmental should pay Fifth Engineering Company 904,500 yuan in project fees, 61,400 yuan in penalty fees (calculated as of November 15, 2022, and thereafter at an annual interest rate of 7.4%), and 59,500 yuan in interest on the occupied funds, totaling approximately 1,025,400 yuan.
Second Instance: The Chenzhou Intermediate People’s Court dismissed Fifth Engineering Company’s appeal in July 2023, upholding the original judgment.
Retrial Stage: The Hunan Provincial High People’s Court ruled to dismiss Fifth Engineering Company’s retrial application in May 2024.

Recently, Grey Environmental received a “Notice” delivered by the Municipal Procuratorate, indicating that Fifth Engineering Company has applied for prosecutorial supervision, and the Municipal Procuratorate decided to accept the case on March 17, 2026.

Chengdian International stated that given the case is still under review, the outcome is uncertain, and it is currently impossible to assess the impact on the company’s current or future profits; the actual impact will be based on the supervisory decision of the Municipal Procuratorate. The company will fulfill its information disclosure obligations timely based on the case progress and remind investors to pay attention to investment risks.

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