ST Meichen announced that the wholly-owned subsidiary Hangzhou Saishi Garden Group Co., Ltd. and Shanxi Erjian Group Co., Ltd. filed an arbitration application with the Hangzhou Arbitration Commission due to a construction contract dispute, requesting that Shengli Garden pay the remaining project payment and corresponding interest according to law, and that Meichen Technology be jointly and severally liable for the settlement of the above debts in accordance with the law. Recently, the company received the “Hangzhou Arbitration Commission Decision” delivered by the Hangzhou Arbitration Commission. After review, the arbitral tribunal found that the “Professional Subcontract” was signed between the applicant and the respondent Sai Shi Yuanlin. Meichen Technology was not a party to the contract involved in the case, and no arbitration agreement was reached with the applicant. The Hangzhou Arbitration Commission decided to dismiss the applicant, Shanxi Erjian's arbitration application against the respondent Meichen Technology.

ST Meichen announced that the wholly-owned subsidiary Hangzhou Saishi Garden Group Co., Ltd. and Shanxi Erjian Group Co., Ltd. filed an arbitration application with the Hangzhou Arbitration Commission due to a construction contract dispute, requesting that Shengli Garden pay the remaining project payment and corresponding interest according to law, and that Meichen Technology be jointly and severally liable for the settlement of the above debts in accordance with the law. Recently, the company received the “Hangzhou Arbitration Commission Decision” delivered by the Hangzhou Arbitration Commission. After review, the arbitral tribunal found that the “Professional Subcontract” was signed between the applicant and the respondent Sai Shi Yuanlin. Meichen Technology was not a party to the contract involved in the case, and no arbitration agreement was reached with the applicant. The Hangzhou Arbitration Commission decided to dismiss the applicant, Shanxi Erjian's arbitration application against the respondent Meichen Technology.