Arbitration issues settled! Guongfeng Technology (688007.SH) made its debut at the Light Expo with AR innovation achievements attracting anticipation.

According to the Wisdom Financial APP, on the evening of August 21st, Guangfeng Technology (688007.SH) publicly disclosed the "Announcement on the Result of Arbitration Matters." The announcement revealed that the company recently received a final arbitral award from the American Arbitration Association. According to the arbitral award, Hong Kong Guangfeng and the company are required to pay a total of 12.69 million US dollars to GDC. GDC is required to pay Hong Kong Guangfeng and the company 1.98 million US dollars and its accumulated interest. After offsetting the payment between the two parties, the actual net payment amount is significantly lower than GDC's initial claim of 38 million US dollars.