Huayi Group announced that Shanghai Huayi New Materials Co., Ltd., a wholly-owned subsidiary of the company, and Guangxi Huayi New Materials Co., Ltd., a holding subsidiary, were the defendants, involving a total amount of 430 million yuan and total litigation costs. Currently, the first instance verdict in this lawsuit is in effect. The company will continue to monitor the progress of this matter and fulfill its information disclosure obligations in accordance with regulations. Investors are kindly requested to pay attention to investment risks.

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