Three Gorges Tourism: Progress in compensation litigation, Hubei Provincial Prosecutor's Office has accepted the review of the protest.
The Three Gorges Tourism announce that in June 2022, the company filed a performance compensation lawsuit against Daoxing Wenlu and Pei Daobing for not fulfilling the agreement. In December 2023, the second instance ruled that Daoxing Wenlu and Pei Daobing must compensate according to the agreement by 100%. In June 2024, the High Court rejected Pei Daobing's application for retrial. In October 2024, 3,557,721 shares of compensatory stocks were cancelled. Currently, the Yichang City Procuratorate has filed an appeal, and the Hubei Provincial Procuratorate has accepted the review. The final result is unknown, and the impact on the company's profit is uncertain. The company has received 134,600 yuan in execution funds from Pei Daobing, and the remaining cash dividends have not been recovered.
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