LegalOct 19, 2026, 04:41 PM
Tungray Technologies Inc. Subsidiary Faces RMB9.75M Legal Liability After Appeal Filed
AI Summary
Tungray Technologies Inc. has disclosed ongoing litigation involving its subsidiary, Tongri Mechanical. The subsidiary had guaranteed obligations for a related party, Fudingtai, to Industrial and Commercial Bank of China (ICBC). ICBC won a lawsuit against Fudingtai and Tongri Mechanical for a loan of RMB9.70 million, with the guarantors jointly and severally liable for approximately RMB9.75 million. Tungray Technologies Inc. has filed an appeal against this judgment.
Key Highlights
- Tungray Technologies Inc. subsidiary Tongri Mechanical guaranteed obligations of related party Fudingtai to ICBC for up to RMB15 million.
- ICBC won a civil lawsuit against Fudingtai and Tongri Mechanical for a loan of RMB9.70 million.
- Tongri Mechanical and other guarantors are jointly and severally liable for approximately RMB9.75 million.
- Tungray Technologies Inc. filed an appeal against the court's judgment on October 8, 2026.
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