Hongbo Co., Ltd. announced that Yingbo Mathematics, a wholly-owned subsidiary of the company, received an “Enforcement Ruling” from the Beijing Third Intermediate Court and decided to end the execution procedure in the case where it applied to enforce the Qianwu Technology arbitration award. The subject of the application for execution was 294 million yuan and interest. The current execution amount was 2612,000 yuan. The court has already imposed consumption restrictions on the executee, and there is no other enforceable property under his name. Whether the remaining claims can be recovered in full is uncertain, and the future financial impact on the company is uncertain.

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