Maiquter Involved in 26.44 Million Yuan Construction Payment Dispute; First Instance Judgment Enters Enforcement Stage for Joint and Several Liability

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Qiaer Group Co., Ltd. (Stock Code: 002719, Stock Abbreviation: Qiaer) recently announced a major litigation notice, disclosing that the company was ordered by the court to bear joint liability for payment disputes related to project payments by its subsidiary. The case has now entered the enforcement stage, with an execution amount of 26.4418 million yuan. The company stated that this litigation will not impact current or future profits.

The announcement shows that the dispute originated from the project payment controversy between its subsidiary, Xinjiang Western Ecological Animal Husbandry Co., Ltd. (“Western Ecology”), and China Railway Construction Group Co., Ltd. (“China Railway Construction”). The two parties signed the “General Contract for Civil Construction and Equipment Installation of the Dairy Farm Ecological Breeding Base Project” on June 28, 2019. China Railway Construction believes the project was completed on December 5, 2021. As of the lawsuit, Western Ecology had paid 69.7341 million yuan, with an outstanding payment of 26.2656 million yuan. China Railway Construction filed a lawsuit requesting payment of the remaining project fee plus interest totaling 27.5572 million yuan. Western Ecology counterclaimed, stating that the project had quality defects and demanded 300,000 yuan for repairs.

On September 4, 2025, the Changji City People’s Court issued a first-instance judgment, ordering Western Ecology to pay China Railway Construction 26.2656 million yuan, with Qiaer bearing joint liability for the debt, and paying a filing fee of 5,000 yuan; the court also dismissed other claims by China Railway Construction and counterclaims by Western Ecology. Both parties did not appeal, and the judgment became effective. On January 14, 2026, China Railway Construction applied for enforcement, with an enforcement amount of 26.4418 million yuan (including project payment, preservation fee, and case acceptance fee). As of the date of this announcement, Qiaer has not received any enforcement documents.

Qiaer emphasized in the announcement that the company has made appropriate accounting provisions according to accounting standards, and that this litigation will not affect current or future profits. Additionally, aside from this case, the company and its controlling subsidiaries have no other cases that meet the criteria for major litigation disclosure, but the total amount of litigation and arbitration matters below the disclosure threshold is 43.89 million yuan. The company will continue to disclose these in subsequent periodic reports.

The company stated it will closely monitor the case progress, actively protect the interests of the company and shareholders, and fulfill its information disclosure obligations in a timely manner.

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