HK Stock Market Move | RONGTA TECH (09881) falls more than 13% to a new low, the company is accused of infringing on trade secrets and faces a claim of around 200 million yuan.

RONGTA TECH (09881) fell by more than 13%, hitting a low of 9.3 Hong Kong dollars, setting a new all-time low during trading. As of the time of writing, it was down 11.02% to 9.61 Hong Kong dollars, with a trading volume of 6.1755 million Hong Kong dollars. On the news front, on the evening of July 3, RONGTA TECH announced that it had received a civil lawsuit from the Xiamen Intermediate People's Court in Fujian Province. According to the civil lawsuit, Xiamen Top Electronic Co., Ltd. (plaintiff) has filed a civil lawsuit against RONGTA TECH and Mr. A, seeking a court order for RONGTA TECH to stop all actions that infringe on the plaintiff's trade secrets and to cease the development, production, and sale of the weighing products accused of infringement. In addition, the plaintiff is seeking a court order for RONGTA TECH and Mr. A to compensate approximately 200 million yuan for all related expenses (actual damages multiplied by the punitive multiplier and added to the litigation costs) in connection with the alleged infringement and civil lawsuit. The Intermediate People's Court will hear the civil lawsuit on July 22, 2025. RONGTA TECH denies the plaintiff's accusations and also states that the plaintiff has been making various legal claims against the group for many years, without success in the retrial arbitration and retrial appeal decisions. Despite the plaintiff's unsuccessful claims against the company, the company will continue to vigorously defend itself in the civil lawsuit with the help of professionals to protect the interests of the company and its shareholders.