Ruima Precision countersued by former shareholders of Xinzheng Parts over equity payment and penalties exceeding 31.5482 million yuan

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The equity transfer dispute between Ruima Precision and the former shareholders of Guangzhou Xinzheng Auto Parts Co., Ltd. has escalated further. The former shareholders, surnamed Ma, have filed a counterclaim with the Huqiu District People's Court in Suzhou, seeking an order for the company to pay the remaining equity transfer price and overdue penalties totaling provisionally 31.5482 million yuan. Previously, on July 13, Ruima Precision announced it had sued the two defendants for breaching non-compete commitments, claiming total penalties of 77.9137 million yuan. The litigation stems from Ruima Precision's two-round acquisition of Xinzheng Parts. On May 16, 2022, the company acquired a 36.482% stake in Xinzheng Parts for 98.5 million yuan and made an additional capital injection of 80 million yuan. In a commitment letter, the two defendants promised not to engage in any business competing with Xinzheng Parts for ten years from the transaction closing date. On April 10, 2025, the parties signed another agreement under which the company would acquire the remaining 49% stake in Xinzheng Parts for approximately 197 million yuan. Ruima Precision alleges that during the non-compete period, the two defendants actually controlled and operated a company in Guangzhou through shareholding by their children, taking over Xinzheng Parts' core ECU controller programming business and producing identical products sold directly to customers. On this basis, it seeks an order for the two defendants to jointly pay 38.414935 million yuan in penalties for breaching the non-compete commitments under the 2022 agreement and 39.4988 million yuan for breaching those under the 2025 agreement. The counterclaim requests payment of the remaining equity transfer price totaling approximately 30.81 million yuan, overdue payment penalties provisionally totaling about 539,000 yuan, and legal fee losses of 200,000 yuan, with the total amount in dispute provisionally about 31.5482 million yuan. As of the announcement date, the above lawsuits have not yet been heard, and Ruima Precision said the outcome remains uncertain, as does the impact on the company's current and future profits.

Impact on assets 1

Others▼
Suzhou Cheersson Precision Metal Fo
002976
▼ NegativeRegulationrelevance

Ruima Precision faces a counterclaim seeking ~31.55 million yuan in remaining equity transfer price and penalties over the Xinzheng Parts acquisition dispute.

Off-coverage companies 1

广州市信征汽车零件有限公司i
Private± MixedRegulationrelevance

Xinzheng Parts is the acquisition target at the center of the equity transfer and non-compete litigation between Ruima Precision and its former shareholders.