Genew has added account freezes, involving a lawsuit amount of nearly 119 million yuan

Genew announced that due to a dispute over a sales contract with Supercom, the company has become a defendant, with the amount in dispute temporarily estimated at 119 million yuan, and the case has not yet been heard. In addition to the five previously frozen accounts, three new accounts have been frozen, with a total of 119 million yuan applied for freezing, and 45.9199 million yuan actually frozen, accounting for 5.07% of the most recent audited net assets attributable to the parent company and 14.41% of the cash balance. All frozen accounts are general accounts and have not caused substantial impact on the company's capital turnover and daily operations. The company will negotiate and communicate to protect its rights in accordance with the law