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Shenzhen Topray Solar (SHE:002218) Controlling Shareholders Sue Over Equity

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Shenzhen Topray Solar (SHE:002218) said lawsuits were filed over the ownership of 53.6% equity in the company's controlling shareholder, Shenzhen Aoxin Investment Development, according to a Tuesday filing with the Shenzhen bourse.

Controlling shareholders and actual controllers, Chen Wukui and Li Fenyu, filed two lawsuits against their daughter, Chen Chen, seeking to reclaim the equity and invalidate a shareholders' resolution made by Chen Chen.

Operations remain normal and the personal family dispute will not materially impact the company's business or performance.

Shares of the solar energy company closed 8% lower Tuesday.

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