Zhitong Finance App News, Changan Minsheng Logistics (01292) issued an announcement. On August 18, 2022, Tongnan Branch of Chongqing Changan Minsheng Boyu Transportation Co., Ltd. (Boyu Tongnan Branch), a wholly-owned subsidiary of the company, signed a cargo transportation agreement with Nakamura Commodity Trade Yunnan Co., Ltd. (Nakamura Commodity) to provide them with coal transportation services. Within 2 months after completion of services under the agreement and reconciliation between the two parties, Zhongcun Trade must pay freight charges to Boyu Tongnan Branch. Nakamura Trading is a limited liability company incorporated in China. On the same day, Nakamura Commodity Trading's parent company, Nakamura Coal Mine (Nakamura Coal Mine), Qujing City, Yunnan Province, issued a letter of guarantee with Boyu Tongnan Branch as the beneficiary, agreeing that Nakamura Coal Mine, as the guarantor, agreed to bear irrevocable joint and several liability protection to the Boyu Tongnan Branch for all business transactions that occurred during the execution of the agreement. The scope of the guarantee includes, but is not limited to, sovereign claims, interest, liquidated damages, and other expenses for the implementation of claims (including but not limited to litigation fees, arbitration fees, attorney fees, etc.) and other expenses for fulfilling claims (including but not limited to litigation fees, arbitration fees, attorney fees, etc.) All expenses payable.

After the agreement was signed, on January 6, 2023, Boyu Tongnan Branch fulfilled all rights and obligations in accordance with the agreement. Despite numerous requests, Nakamura Commodity did not pay the full freight as agreed. As of the date of this announcement, Nakamura Commodity defaulted on freight charges of 387.919 million yuan (RMB, same below) to Boyu Tongnan Branch. On September 8, 2023, Boyu Tongnan Branch, Nakamura Products and Zhongcun Coal Mine reached a civil ruling under the ruling of the People's Court (Qujing Court) of Qilin District, Qujing City, Yunnan Province, China. It was agreed that Nakamura Commodity would pay 387.919 million yuan in transportation expenses and 3,0371 million yuan in capital expenses to Boyu Tongnan Branch by September 30, 2023. The total cost of the two expenses was 41,829 million yuan (arrears), and Nakamura Coal Mine was jointly and severally liable for the settlement of the arrears.

Since Nakamura Commodity Trade did not pay transportation costs and capital expenses totaling 41.829 million yuan as agreed in the civil ruling, Boyu Tongnan Branch applied to the Qujing court for execution after repeatedly urging Nakamura Commodity Trade and Nakamura Coal to pay the arrears. On November 6, 2023, the Qujing Court officially accepted the Boyu Tongnan Branch's execution application (case number: (2023) Cloud 0302, No. 6293), demanding that Nakamura Commodity Trade repay the arrears, and that Nakamura Coal Mine bear joint and several guarantee liability to pay the debts owed to Boyu Tongnan Branch.

Currently, the company is actively taking measures to collect arrears from Nakamura Commodity Trade and Nakamura Coal Mine, and will make further announcements in due course so that the company's shareholders and potential investors are aware of any significant developments in the lawsuit.