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According to Naipu Mining Machinery's announcement, the company's wholly-owned subsidiary Naipu of Zambia received lawsuit documents served by the Zambian High Court in October 2026. The plaintiff China Shunfeng Enterprise Group Limited argued that Zambia's Neptune and other defendants obtained the C and B subdivision property rights in the L/542/M/6 plot through fraudulent means, and appealed for the revocation of the relevant property rights certificates and the issuance of temporary injunctions. Naipu Zambia has paid the full amount of the land transfer payment and applied for a land registration certificate in 2021. The company did not approve the original claim and will hire a local lawyer to actively respond to the lawsuit. This case has yet to be tried in court. The outcome of the lawsuit is uncertain, and the impact on the company's profit and loss cannot be determined yet.
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According to Naipu Mining Machinery's announcement, the company's wholly-owned subsidiary Naipu of Zambia received lawsuit documents served by the Zambian High Court in October 2026. The plaintiff China Shunfeng Enterprise Group Limited argued that Zambia's Neptune and other defendants obtained the C and B subdivision property rights in the L/542/M/6 plot through fraudulent means, and appealed for the revocation of the relevant property rights certificates and the issuance of temporary injunctions. Naipu Zambia has paid the full amount of the land transfer payment and applied for a land registration certificate in 2021. The company did not approve the original claim and will hire a local lawyer to actively respond to the lawsuit. This case has yet to be tried in court. The outcome of the lawsuit is uncertain, and the impact on the company's profit and loss cannot be determined yet.
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