Quartz Co., Ltd. (603688.SH): The holding subsidiary was fined 2.7 million yuan for infringing trade secrets

Zhitong Finance App News, Quartz Co., Ltd. (603688.SH) issued an announcement. The company and its holding subsidiary Lianyungang Qiangbang Quartz Products Co., Ltd. received a criminal judgment from the Lianyungang Intermediate People's Court of Jiangsu Province. Qiangbang Company committed the crime of infringing trade secrets and was fined RMB 2.7 million yuan. In this case, the company was the victim, and Qiangbang Company was criminally punished because of criminal facts relating to the company prior to its acquisition. After the judgment comes into effect, the company will pursue the civil liability of the parties concerned in accordance with the relevant provisions of the “Equity Transfer Agreement”. This criminal judgment is only a first instance judgment. Currently, the verdict has not taken effect. There is still uncertainty about the final judgment and subsequent execution results of the case. The current business conditions of the company and Qiangbang Company are all normal. The above verdict has no significant adverse effect on the company's current profit or after-period profit.