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China Cinda Asset Management Co., Ltd.
中國信達資產管理股份有限公司
(A joint stock company incorporated in the People's Republic of China with limited liability)
(Stock Code: 01359 and 04607 (Preference Shares))
UPDATE ON THE LITIGATION BY JUNEFIELD REAL ESTATE
References are made to the announcements of China Cinda Asset Management Co., Ltd. (the "Company") dated December 27, 2013, December 23, 2014, January 27, 2015, April 5, 2017 and August 15, 2019 regarding the litigation (the "Litigation") filed by Beijing Junefield Real Estate Development Co., Ltd. ("Junefield Real Estate"). Unless otherwise defined herein, terms used in this announcement shall have the same meanings as those defined in the announcement of the Company dated December 27, 2013.
Upon receival of the second trial judgment on the Litigation made by the Supreme People's Court (the "Second Trial Judgment"), Cinda Investment, Cinda Properties and Cinda Beijing Branch were of the view that there were mistakes in the fact-finding and laws application process in the Second Trial Judgment and therefore, they filed a formal retrial petition to the Supreme People's Court on April 6, 2017. On April 20, 2017, the Supreme People's Court accepted the petition. Recently, Cinda Investment received a ruling from the Supreme People's Court which decided to conduct a retrial.
The Company currently assesses that the Litigation will not have material adverse effect on its operating results and financial conditions, and will not affect the normal operation of the Company. The Company will make further announcement to inform the shareholders and potential investors of the development of the Litigation where necessary.
This announcement is made by the Company on a voluntary basis.
By order of the Board
China Cinda Asset Management Co., Ltd.
Zhang Zi'ai
Chairman
Beijing, the PRC
December 11, 2019
As at the date of this announcement, the Board of the Company consists of Mr. ZHANG Zi'ai as an executive director, Mr. HE Jieping, Mr. XU Long, Ms. YUAN Hong, Mr. ZHANG Guoqing and Mr. LIU Chong as non-executive directors, and Mr. ZHU Wuxiang, Mr. SUN Baowen, Mr. LU Zhengfei and Mr. LAM Chi Kuen as independent non-executive directors.