Asia
Wuhan Yifei Laser Rejects Sales Contract Dispute
Wuhan Yifei Laser (SHA:688646) rejected an updated sales contract dispute filed by a customer over allegedly substandard equipment delivered, calling the complaint unreasonable, according to a Thursday filing with the Shanghai bourse.Client Jiangsu Chunlan Clean Energy Research Institute filed a lawsuit against the listed company. The complainant seeks 14.5 million yuan in operational losses, lost profits, and legal fees against the laser maker. It also demands a waiver of the remaining contract balance should Yifei fail to rectify the equipment.Yifei said it could not grant the request, saying the complainant has used the equipment for several years while refusing to pay its balance to the listed company, it said.
SHA:688646
