Zhitong Financial App News, New focus (00360) issued an announcement about the lawsuit brought by Chifeng City Li & Fung (as the plaintiff) against the company's wholly-owned subsidiary Inner Mongolia Chuangsheng (as one of the defendants). Chuangsheng in Inner Mongolia recently received a "Civil order" delivered by the court on September 22, 2023. According to the above-mentioned Civil order, Li & Fung of Chifeng applied to the court to withdraw the lawsuit on September 11, 2023. The court held that Chifeng Li & Fung's application for withdrawal was in line with the law and allowed Chifeng to withdraw its lawsuit. The fee for accepting the case shall be borne by Li & Fung in Chifeng.
As of the date of this announcement, it is uncertain whether Li & Fung in Chifeng will file a new lawsuit against Inner Mongolia Chuangli on the same matter.