Palm Co.: Sued for 113 million yuan

K-LinePoet · 2026-03-01T08:43:57+00:00

Palm股份 and its subsidiaries have been sued for construction contract disputes, involving an amount of 113 million yuan, accounting for 6.83% of the company's net assets. The case has been filed, and the plaintiff's claims include remaining project payments and liquidated damages. As a defendant, the company may be liable for compensation.

K-LinePoet

2026-03-01 08:43:57

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Palm Co., Ltd. announced that the company and its subsidiary Meizhou Zongyuan were sued by Guangdong Guoyuan Construction Engineering Co., Ltd. for construction contract disputes. The involved amount is 113 million yuan, accounting for 6.83% of the company’s latest audited net assets (2024). The case has been filed with the court, and no trial has yet been held. The plaintiff claims three project final payments and overdue penalty interests, amounting to 41.4067 million yuan, 4.7004 million yuan, and 6.0478 million yuan, respectively, with penalty interests of 48.4695 million yuan, 4.433 million yuan, and 8.2893 million yuan. As the lead party in the consortium and a shareholder defendant, the company may need to bear additional compensation responsibilities.

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