Northeast Electric Wins Misrepresentation Dispute

Northeast Electric Development Co., Ltd. Class H (HK:0042) has released an update.

Northeast Electric Development Co., Ltd. disclosed the results of a second-instance judgment by the Hainan Provincial High Court regarding a securities misrepresentation liability dispute case filed by plaintiff Wang Juan. The court rejected all claims by Wang Juan, who had alleged inaccuracies in the company’s financial reporting for 2020 and 2021 which negatively impacted shareholder interests, and ordered the plaintiff to bear the case acceptance fee. The ruling supports the company’s position and dismisses the accusations of reporting impropriety.

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