Lancang Ancient Tea (06911.HK): Loses First Instance Judgment Over Frozen Bank Accounts, Plans to File Appeal

NewTimeSpace · 2026/07/03 07:47 · By Xuran Lin

NewTimeSpace News: Lancang Ancient Tea announced on July 2 that the company and its subsidiary Guangzhou Kangrui have received a first-instance judgment in a relevant lawsuit, ordering them to refund RMB 30 million in payment for goods, pay liquidated damages of RMB 1 million together with related interest and litigation costs.

NewTimeSpace News: On July 2, 2026, Lancang Ancient Tea (06911.HK) issued an announcement regarding a lawsuit involving its subsidiary Guangzhou Kangrui. The court ruled that Guangzhou Minghui Technology and Guangzhou Kangrui shall refund RMB 30 million of goods payment to Hebei Hua'en Trading, pay liquidated damages of RMB 1 million plus accrued interest. The Company, Ms. Wang Juan, Mr. Zhang Muheng and other relevant parties are jointly and severally liable for repayment.

Lancang Ancient Tea stated that this is only a first-instance judgment, and the Company and Guangzhou Kangrui intend to lodge an appeal in accordance with legal procedures.

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