Gaoce Tech Files Suit Over Two Sales Contract Disputes
Qingdao Gaoce Technology (SHA:688556) has initiated legal proceedings against several clean-energy firms over two sales contract disputes, according to a Shanghai bourse filing on Thursday.The first case involved a deal for the company to supply slicing machines, grinding and chamfering machines to Yangzhou Pengfei Energy Technology. The company is seeking the payment of overdue debts worth nearly 73 million yuan from Yangzhou Pengfei, with Yangzhou Honghui Energy and Shuangpeng New Energy Technology (Jiangsu) assuming joint liability for the debt.Gaoce also sued Shuangpeng New Energy, alleging failure to pay the company 97.4 million yuan after purchasing slicing machines.Both cases were filed at the Chengyang District People's Court of Qingdao in China.The Chinese cutting equipment manufacturer's shares rose 1% during the afternoon trade.
