Casa Tianjiao (02223) issued an announcement relating to (among others) that Kaza Life is due to Hunan Ant Planet...
According to the Zhitong Finance App, Casa Tianjiao (02223) issued an announcement regarding (including) matters relating to (among others) Casa Life's claim against Hunan Ant Planet for the amount of capital due and payable but unpaid, of RMB 1 million.
Fusheng Investment Co., Ltd. (Fusheng Investment, an indirect wholly-owned subsidiary of a company), Hunan Ant Planet and Hangzhou Dingyuan signed a joint venture contract on October 5, 2022 to establish Casa Life with a registered capital of RMB 15 million (currently a non-wholly-owned subsidiary of a group). According to the joint venture agreement, Fusheng Investment, Hunan Ant Planet and Hangzhou Dingyuan promised to invest 51%, 35%, and 14% of their shares in Casa Life, respectively. Fusheng Investment and Hangzhou Dingyuan have fulfilled their respective investment responsibilities according to the joint venture contract before October 31, 2022. However, Hunan Ant Planet has yet to pay the first phase of the investment amount of RMB 1 million (due and payable according to the joint venture contract on September 30, 2023).
As disclosed in the announcement, on January 26, 2024, Casa Life as the plaintiff filed a claim (lawsuit) with the Huicheng District Court using Hunan Ant Planet as the defendant.
The board of directors announced that the Huicheng District Court issued an “Notice of Acceptance” of the lawsuit on March 28, 2024. The hearing date of the claim is subject to further notice from the Huicheng District Court.
The Group is currently seeking legal advice on the lawsuit and will actively exercise its rights and protect its rights, including but not limited to taking appropriate action and seeking appropriate remedies with respect to all current and future rights under the joint venture contract.