Wednesday , June 16 2021

Shanghai Phoenix and ofo reach an agreement: recover 27.92 million yuan in payment of the remaining installments – IT and transportation – cnBeta.COM



On January 11, Shanghai Phoenix Enterprise (Group) Co., Ltd. (600679, Shanghai Phoenix) announced thatUnder the mediation of Beijing No. 1 Intermediate People's Court, the company's controlling subsidiary, the Shanghai Phoenix Bicycle Co., Ltd. (Phoenix Bicycle) and the operator Dongo Datong (Beijing) Management Consulting Co., Ltd. (Dongxia Datong ) voluntarily reached a mediation agreement. Specific content includes:

1. Confirmation includes payment of outstanding payment, legal fees, interest (as of November 20, 2018), etc. Dongxia Datong processed a total of 71,116 million yuan of Phoenix bicycles;

2. Agree that the No. 1 Beijing Intermediate People's Court deducted the frozen amount from Dongxia Datong (on November 20, 2018) and paid 28,405,500 yuan to the Phoenix bicycle. The remaining payments are paid in installments.

The mediation book on this case was signed by the parties with legal effect, and Phoenix Bicycle received a frozen sum of RMB 27.9261 million from Dongxia Datong, which was recently transferred by the court.

Shanghai Phoenix said the company's subsidiary, Phoenix Bicycle, has recovered part of the receivables and reached a settlement settlement agreement with Dongxia Datong to effectively reduce the risk of receivables and will also bring benefits to listed companies. Come to a certain positive impact.


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