Kangqiao Service Subsidiary Faces Asset Enforcement in RMB473.7 Million Dispute
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Kangqiao Service Group Limited's subsidiary, Kangqiao Yueshenghuo Service Group, is facing enforcement of a civil judgment for RMB473.7 million due to irregularities in bank accounts and a disputed promissory letter. The Intermediate People’s Court of Zhengzhou has deducted RMB214.5 million from the subsidiary's bank balances and seized four vehicles. The company is applying for a retrial and does not expect significant adverse effects on its operations. Shareholders are advised to exercise caution regarding the company's shares.
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