ST HuiCheng's Wholly-Owned Subsidiary Faces Repeated Jurisdiction Transfers in RMB 71.44M Contract Dispute

In April 2025, Chongqing Hui Cheng Future Intelligent Electric Co., Ltd., a wholly-owned subsidiary of ST Hui Cheng, filed a lawsuit with the Bishan District People's Court of Chongqing against Gauss New Energy Vehicle Technology (Jiangsu) Co., Ltd. and other parties over a sales contract dispute, involving a claim amount of RMB 71.44 million. In December 2025, the case was ordered to be transferred to the First Intermediate People's Court of Chongqing for trial. Recently, the First Intermediate People's Court of Chongqing further ruled to transfer the case to the Chongqing Pilot Free Trade Zone People's Court. As of the date of this announcement, the court to which the case was transferred has not yet held a hearing, and the impact of this matter on the company's profits remains uncertain.