Starry Sky Chinese (06698) issued an announcement. Recently, Shanghai Canxing Culture Media Co., Ltd., an affiliate of the company...
Zhitong Finance App News, Starry Sky Chinese (06698) issued an announcement. Recently, the company's affiliate, Shanghai CanXing Culture Media Co., Ltd. (hereinafter referred to as “Sunstar Company”), received the (2023) “Notice of Acceptance of Case” and “Summons” from Shanghai No. 1 Intermediate People's Court (2023). The Shanghai No. 1 Intermediate People's Court accepted the case on September 15, 2023. It was originally scheduled to be heard at 14:00 p.m. on April 9, 2024, as the defendant Warner Records China (Hong Kong) Co., Ltd. (hereinafter referred to as “Warner Company”) Jurisdictional objection. The Shanghai No. 1 Intermediate People's Court ruled that the objection to jurisdiction was established. The case has now been transferred from the Shanghai No. 1 Intermediate People's Court to the Shanghai No. 2 Intermediate People's Court, and the Shanghai No. 2 Intermediate People's Court filed the case on April 8, 2024.
Since the case is still pending before the court, there is uncertainty about the final verdict, execution, etc., and the final impact will be based on the court's trial results and annual audit results. The company fully supports and cooperates and actively provides all necessary assistance.