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XINWANDA: Subsidiary Xinwanda Power has reached a settlement with Wairui Electric, and the plaintiff has withdrawn the lawsuit.
XINWANDA Announcement: Subsidiary XINWANDA Power Technology Co., Ltd. and WeRui Electric Vehicle Technology (Ningbo) Co., Ltd. have a dispute over a sales contract. WeRui Electric filed a lawsuit with the Ningbo Intermediate People’s Court in Zhejiang Province in December 2025, demanding that XINWANDA Power fulfill its obligations to pay compensation and other amounts. After full communication, both parties agreed to resolve the dispute through friendly negotiations and signed a Settlement Agreement. As of now, the Settlement Agreement has taken effect, and the plaintiff has withdrawn the lawsuit from the Ningbo Intermediate People’s Court in Zhejiang Province.