Huasheng Tiancheng announced that the company and the Changzhou High-tech Zone Management Committee signed the “Huasheng Tiancheng Jiangsu Regional Headquarters and Software Division Business Headquarters Project Investment Agreement” on December 31, 2019. Due to the impact of many factors such as the epidemic and market environment, the company did not reach the requirements for an investment agreement within the agreed period, so the Changzhou High-tech Zone Management Committee applied to the Changzhou Arbitration Commission for arbitration. The company recently received a ruling from the Changzhou Arbitration Commission requiring the company to refund 35 million yuan of incentive funds to the Changzhou High-tech Zone Management Committee and pay expenses such as overdue interest and attorney's agency fees according to 150% of the LPR interest rate from February 1, 2024 to the date of actual payment.

Huasheng Tiancheng announced that the company and the Changzhou High-tech Zone Management Committee signed the “Huasheng Tiancheng Jiangsu Regional Headquarters and Software Division Business Headquarters Project Investment Agreement” on December 31, 2019. Due to the impact of many factors such as the epidemic and market environment, the company did not reach the requirements for an investment agreement within the agreed period, so the Changzhou High-tech Zone Management Committee applied to the Changzhou Arbitration Commission for arbitration. The company recently received a ruling from the Changzhou Arbitration Commission requiring the company to refund 35 million yuan of incentive funds to the Changzhou High-tech Zone Management Committee and pay expenses such as overdue interest and attorney's agency fees according to 150% of the LPR interest rate from February 1, 2024 to the date of actual payment.