Huitian Thermal Power Holdings' subsidiary lawsuit receives first-instance judgment involving an amount of 14.9M yuan

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Shenyang Huitian Thermal Power Co., Ltd. (Stock Code: 000692, Stock Abbreviation: Huitian Thermal Power) recently announced that its controlling subsidiary, Shenyang Thermal Engineering Design Research Institute Co., Ltd. (hereinafter referred to as “Thermal Design Institute”), won a first-instance judgment in a design fee recovery lawsuit where it was the plaintiff. The case involves a total amount of 14.9036 million yuan and is currently in the first-instance judgment stage. The final outcome remains uncertain, and its impact on the company’s current or future profits cannot be determined at this time.

The announcement shows that the Thermal Design Institute filed a lawsuit with the People’s Court of Heping District, Shenyang City, Liaoning Province, on October 9, 2025, regarding the unpaid design fees by China Railway Ninth Bureau Group Co., Ltd. (hereinafter referred to as “China Railway Ninth Bureau”). The court held a hearing on January 29, 2026, and issued a first-instance judgment on March 23, 2026.

According to the judgment, China Railway Ninth Bureau is required to pay the Thermal Design Institute 12.4136 million yuan in design fees and pay the corresponding overdue interest. The interest is calculated based on 12.4136 million yuan, starting from September 15, 2023, according to the one-year Loan Prime Rate (LPR) announced by the National Interbank Funding Center authorized by the People’s Bank of China, until the actual repayment date. The case acceptance fee of 125.9k yuan is borne by China Railway Ninth Bureau (101.4k yuan) and the Thermal Design Institute (15.5k yuan); the preservation fee of 5,000 yuan is borne by China Railway Ninth Bureau.

It is noteworthy that the plaintiff, Thermal Design Institute, changed its litigation claims during the lawsuit, with adjustments to the original claim amount and interest calculation method. The defendant, China Railway Ninth Bureau, acknowledged the principal of 12.4136 million yuan owed for design fees during the trial but argued that interest should be calculated from the date of the plaintiff’s filing. The court’s final judgment set the interest start date as September 15, 2023, which differs from the plaintiff’s claimed start date. As a result, other claims by the plaintiff were dismissed. As of the date of this announcement, Huitian Thermal Power has not yet received any opinion from China Railway Ninth Bureau regarding the judgment. If the other party files an appeal, the case will proceed to the second instance.

Additionally, the announcement discloses the company’s accumulated new small-scale litigation cases that have not been disclosed. As of March 24, 2026, the company has added 8 small-scale (less than 10% of net assets) litigation cases, with a total claimed amount of 479.4k yuan. The specific details are as follows:

Huitian Thermal Power states that the company will continue to monitor the subsequent developments of the above litigation matters and will fulfill its information disclosure obligations in a timely manner according to relevant regulations.

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Editor: Xiao Lang Express