According to the Zhitong Finance App, Hapley (09989) announced that Techdow Pharma Italy S.R.L., a wholly-owned subsidiary of the company, was involved in telecom fraud by a criminal group. The amount involved was more than 11.7 million euros. In order to protect the interests of the company and investors, Li Li, the controlling shareholder of the company, promised on February 3, 2024 that the company would advance capital equivalent to no more than 11.74 million euros in advance to the company.
On March 14, 2024, the company received advance payments from Mr. Li through Shenzhen Leren Technology Co., Ltd., totaling RMB 89.8096 million (calculated based on the average exchange rate of EUR/RMB 7.6500 per euro used by the company to determine non-operating losses on December 31, 2023, the amount involved was 117.398 million euros).
The company hereby confirms that if the company or its related parties (including but not limited to Tiandao Italy) recover all or part of the payment or receive compensation of any nature from any relevant responsible party through criminal or civil legal procedures or by any other means, after such payment or compensation is recovered or obtained, the company shall return the equivalent amount of RMB 1 to RMB 7.6500 at a fixed exchange rate of 1 euro to RMB 7.6500 to Shenzhen Leren. The total amount of the above refund shall not exceed the total amount actually advanced by Shenzhen Le Ren during any period, and this advance payment does not occur during any period during which time the advance payment was made forms of interest.