Zhitong Financial App News, Global Digital Creative (08271) issued an announcement, the content of the company's indirect non-wholly-owned subsidiary Guangdong Global Digital Creative Industry Co., Ltd. (Guangdong Global Digital) filed a claim against Pearl River Film production Co., Ltd. (Pearl Film production): (1) the construction funds and related interest invested in the Pearl Film Cultural Industry Park are about 240 million yuan and 54.9 million yuan respectively. And (2) the compensation for the loss of Guangdong Global Digital caused by the breach of contract of the above investment is RMB 20 million (such claims). On May 18, 2022, the civil judgment made by the Guangzhou Intermediate people's Court was served on Guangdong Global Digital. According to the civil judgment, the claims were rejected by the Guangzhou Intermediate people's Court. On June 1, 2022, Guangdong Global Digital filed an appeal against the civil judgment to the Guangdong higher people's Court.
On July 21, 2023, the company received a "Civil judgment" ("High Court Civil judgment") issued by the Guangdong higher people's Court. The appeal was rejected according to the Civil judgment of the High Court, and the original judgment of the Guangzhou Intermediate Court was upheld.
The company is seeking legal advice in response to the High Court Civil judgment and will make further announcements on any developments in due course.