ST Erya subsidiary files lawsuit over purchase and sales contract dispute exceeding 100 million yuan; court has accepted the case but trial date not yet scheduled

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Hubei Meierya Co., Ltd. (stock abbreviation: ST Erya (rights protection), stock code: 600107) recently announced a major litigation, disclosing that its wholly-owned subsidiary Guizhou Meierya Energy Mining Co., Ltd. (hereinafter referred to as “Guizhou Meierya”) and its Liupanshui branch (hereinafter referred to as “Liupanshui Company”) filed a lawsuit against Guizhou Panyu Trading Co., Ltd. (hereinafter referred to as “Guizhou Panyu”) at Shui District People’s Court in Liupanshui City over a contract dispute. As of the announcement date, the court has accepted the case but has not yet held a hearing.

The announcement shows that the lawsuit stems from twelve coal purchase and sale contracts signed between Guizhou Meierya, Liupanshui Company, and Guizhou Panyu from May 2023 to May 2024. The plaintiff states that in the early stages of contract performance, the defendant completed part of the supply but later failed to fulfill the coal delivery obligations in full. Although the parties signed a “Tripartite Contract Supplementary Agreement” on August 30, 2024, confirming the amount unpaid by the defendant as of that date, and a “Agreement on Offsetting Other Payables Against Prepaid Accounts” in December 2025, which finally confirmed the defendant’s unpaid amount as 103,542,812.41 yuan, the defendant still did not resume coal supply despite multiple reminders. The plaintiff then filed a lawsuit.

The plaintiff’s specific claims include: confirming the validity of the twelve coal purchase and sale contracts; rescinding the agreements due to the defendant’s breach of contract preventing the contract’s purpose from being achieved; ordering the defendant to return the prepaid coal purchase amount of 103,542,812.41 yuan that was paid but not fulfilled; ordering the defendant to pay interest on the funds occupied (initially calculated as 6,741,354.87 yuan as of March 5, 2026, the date of filing, with subsequent interest calculated at the one-year LPR rate until actual repayment); and bearing the litigation costs.

Regarding the impact of this lawsuit on the company, ST Erya stated that since the case has not yet gone to court, it is currently impossible to accurately assess its impact on the company’s current or future profits, and there is uncertainty. The company will continue to monitor the case progress and fulfill disclosure obligations in a timely manner. Additionally, the announcement pointed out that aside from this major lawsuit, the company and its subsidiaries have no other major lawsuits or arbitration matters that need disclosure but have not been disclosed.

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Editor: Xiao Lang Kuai Bao