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ST Palm announced that its subsidiary Laiyang Palm sued the Laiyang Housing and Construction Bureau and the municipal government in September 2024 due to a PPP project agreement dispute. The Laiyang Municipal Court of Shandong Province rejected the lawsuit in April 2026, and Laiyang Palm appealed. On August 1, the company received the final ruling of the Yantai Intermediate Court, rejected the appeal, and upheld the original judgment. This development has no significant impact on daily operations, and the financial impact is subject to the audit results. The company does not rule out continuing the lawsuit as a shareholder and will promptly disclose the progress.

Zhitongcaijing·08/03/2026 08:25:02
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ST Palm announced that its subsidiary Laiyang Palm sued the Laiyang Housing and Construction Bureau and the municipal government in September 2024 due to a PPP project agreement dispute. The Laiyang Municipal Court of Shandong Province rejected the lawsuit in April 2026, and Laiyang Palm appealed. On August 1, the company received the final ruling of the Yantai Intermediate Court, rejected the appeal, and upheld the original judgment. This development has no significant impact on daily operations, and the financial impact is subject to the audit results. The company does not rule out continuing the lawsuit as a shareholder and will promptly disclose the progress.