ST Mingjia Hui Sues Wuhu Culture and Tourism over Construction Contract Dispute with Involved Amount Exceeding 22.79 Million Yuan

Log in to Sina Finance App and search for [Information Disclosure] to see more evaluation levels.

Shenzhen Mingjia Hui Technology Co., Ltd. (Stock abbreviation: ST Mingjia Hui, Stock code: 300506) recently announced that due to a construction contract dispute with Wuhu Cultural Tourism Investment Co., Ltd. (hereinafter referred to as “Wuhu Cultural Tourism”), the company has filed a lawsuit with the Jinghu District People’s Court in Wuhu City, Anhui Province. The total amount involved is 20,791,970.36 yuan. The court has accepted the case and scheduled a hearing for April 23, 2026.

The announcement shows that in September 2021, ST Mingjia Hui signed a “Construction Contract” with Wuhu Cultural Tourism, agreeing that ST Mingjia Hui would undertake the Wuhu Riverside Lighting Enhancement Project. The scope of the project includes the design, construction, and maintenance of facilities such as the dock, riverside landscaping, residential buildings, and bridges. The contract price was 80,014,777 yuan. The contract clearly states that after project settlement auditing, 97% of the settlement price will be paid, with the remaining 3% held as a warranty deposit to be paid interest-free after the five-year warranty period.

According to the announcement, the project involved was completed and accepted on September 26, 2022. On July 8, 2024, the auditing firm Shanghai Dahua Engineering Cost Consulting Co., Ltd., entrusted by Wuhu Cultural Tourism, verified that the project cost was 63,894,336.90 yuan. According to the contract, Wuhu Cultural Tourism should pay 97% of the settlement price, i.e., 61,977,506.79 yuan, by August 23, 2024. However, as of now, Wuhu Cultural Tourism has only paid 43,617,817.95 yuan, leaving an outstanding balance of 18,359,688.84 yuan, which is overdue by more than 56 days.

Based on the above facts, ST Mingjia Hui has filed three claims: first, to order Wuhu Cultural Tourism to pay the outstanding amount of 18,359,688.84 yuan and late payment damages (estimated at 2,432,281.52 yuan until January 13, 2026); second, to confirm that the company has a priority right to claim the project payment for the Wuhu Riverside Lighting Enhancement Project; third, that the defendant bears the case acceptance fee, property preservation fee, and guarantee fee.

Additionally, the announcement discloses that as of the date of this announcement, ST Mingjia Hui and its controlling subsidiaries are involved in six other undisclosed lawsuits and arbitration cases, with a total amount involved of 8,979,755.40 yuan.

Regarding the impact of this lawsuit on the company, ST Mingjia Hui stated that since the case has not yet gone to court, the final actual impact will depend on the court or arbitration ruling. The company will fulfill its information disclosure obligations in a timely manner according to the progress of the case and remind investors to make cautious decisions and pay attention to investment risks.

Click to view the original announcement>>

Disclaimer: The market carries risks; investment should be cautious. This article is automatically published by an AI large model based on third-party databases and does not represent Sina Finance’s views. Any information appearing in this article is for reference only and does not constitute personal investment advice. Please refer to the actual announcement for any discrepancies. If you have questions, please contact biz@staff.sina.com.cn.