Yihuatong Faces Revised RMB 359.3 Million Claim In Foshan Court

Yihuatong (02402) said Foshan Feichi has revised its civil claim in the Foshan Intermediate People's Court in Guangdong, seeking payment of about RMB 359.3 million plus accrued interest from Tangshan Hanyi Hydrogen Energy Technology, according to ETNet. The company said Tangshan Qianchen, a wholly owned subsidiary, is also named in the case. Of the principal amount, Tangshan Qianchen is alleged to owe about RMB 201.6 million, representing state hydrogen subsidies it received, plus accrued interest. Yihuatong said it and Tangshan Qianchen may bear joint and several liability for the debt. The court has not yet held a hearing, and the claim does not reflect the final judgment.