Rongke Holdings (02323) issued an announcement to the Florida District Court of Appeals to Zhuo Macau in relation to Zhuo Macau...
According to the Zhitong Finance App, Rongke Holdings (02323) issued an announcement to appeal the judgment of Zhuo Macau to the Florida Regional Court of Appeals of the United States regarding the claim filed by Zhuo Macau with CTX. The appeal was later dismissed, and the appellate court issued an order on January 26, 2024 granting the dismissal of the appeal.
Zhizhuo Macau has appointed legal advisers from the US and Macau to provide advice on (i) the time frame for CTX's possible execution of US court decisions in Macau; and (ii) if CTX enforces the judgment in Macau, the impact of the judgment on other member companies of the Group. As of the date of this announcement, Zhuo Macau has not received a response from US or Macau legal advisors.
Zhizhuo Macau is an indirect wholly-owned subsidiary of the company. It is mainly engaged in the sale of printed circuit boards and the processing of invoices for the Group's printed circuit board business. Since Zhizhuo Macau does not have any significant assets and has not brought any meaningful profit to the Group, after hearing the opinions of the US and Macau legal advisers mentioned above, the directors believe that the judgment and order will not have any significant adverse impact on the Group's business operations and financial situation.