Hi-Tech Development announced that the dispute between the wholly-owned subsidiary Chengdu Beite Construction and Installation Engineering Co., Ltd. and Jiahuamei Company's “General Contract Construction Contract for the ABC Section of Huahui Jiayuehui Plaza” progressed. Beite Jianan has received 483 million yuan of “Enforcement Rulings”, “Case Funds Allocation Decision” and execution of the case from the People's Court of the Chengdu High-tech Industrial Development Zone. Recently, Beite Jianan received a civil judgment from the People's Court of the Chengdu High-tech Industrial Development Zone against Chengdu Chengfei Construction Co., Ltd. objecting to the implementation of the distribution plan of the “Case Payment Allocation Decision”. The judgment rejected the lawsuit of Chengdu Chengfei Construction Co., Ltd. to rescind the “Case Payment Allocation Decision”, which is not expected to have a significant impact on the company's current or future profits.

Hi-Tech Development announced that the dispute between the wholly-owned subsidiary Chengdu Beite Construction and Installation Engineering Co., Ltd. and Jiahuamei Company's “General Contract Construction Contract for the ABC Section of Huahui Jiayuehui Plaza” progressed. Beite Jianan has received 483 million yuan of “Enforcement Rulings”, “Case Funds Allocation Decision” and execution of the case from the People's Court of the Chengdu High-tech Industrial Development Zone. Recently, Beite Jianan received a civil judgment from the People's Court of the Chengdu High-tech Industrial Development Zone against Chengdu Chengfei Construction Co., Ltd. objecting to the implementation of the distribution plan of the “Case Payment Allocation Decision”. The judgment rejected the lawsuit of Chengdu Chengfei Construction Co., Ltd. to rescind the “Case Payment Allocation Decision”, which is not expected to have a significant impact on the company's current or future profits.