Gaosec Co., Ltd. announced on September 11 that the company's two lawsuits as plaintiffs have now been settled, and the relevant lawsuits have been withdrawn. The total principal amount involved in the two cases was about 170 million yuan, as well as related expenses such as liquidated damages. The company said that this settlement and withdrawal of the lawsuit will not have a significant adverse impact on daily operations, and that it has already prepared for bad debts in accordance with the guidelines in the early stages. Subsequent remaining accounts receivable will be processed according to regulations, and the specific impact will be based on the results of the annual audit.

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