Huafa Group: Subsidiary Zhuhai Huazhuo Involved in 628 Million Yuan Lawsuit

Huafa Group Announcement: Subsidiary Zhuhai Huazhuo Real Estate Development Co., Ltd. filed a lawsuit against Jilin Tianmao Real Estate Group Co., Ltd. to Guangdong Zhuhai Intermediate People's Court for a dispute involving damages to the company's interests. The amount involved in the case is 628 million yuan. Plaintiff Zhuhai Huazhuo and defendant Jilin Tianmao signed a cooperation agreement to jointly establish a target company, but Jilin Tianmao failed to return the funds as agreed, with a total amount of 627 million yuan outstanding. The plaintiff filed a lawsuit requesting the defendant to return the funds and compensate for the losses. The case has not yet been heard in court, and the impact on the company's current or future profits cannot be determined at this time.