Bestore's Controlling Shareholder Loses First-Instance Equity Transfer Dispute, Ordered to Pay 5 Million Yuan in Penalty

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Bestore announced that it received a notification letter from its controlling shareholder Ningbo Hanyi. The Guangzhou Intermediate People's Court issued a first-instance judgment in the equity transfer dispute between Guangzhou Light Industry and Ningbo Hanyi, confirming that the agreement signed by both parties was terminated on December 15, 2025. Ningbo Hanyi is required to pay 5 million yuan in penalty to Guangzhou Light Industry, while other claims by Guangzhou Light Industry were dismissed. Bestore stated that this lawsuit is a contract dispute between controlling shareholders, with the company as a third party. The payment obligation determined by the judgment does not involve the company, and it has no significant impact on production, operations, or current profits and losses. This judgment is a first-instance ruling and has not yet taken effect.

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Bestore Co Ltd
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Controlling shareholder ordered to pay 5M yuan in an equity transfer dispute; Bestore says it is only a third party with no significant impact on operations or profits.

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宁波汉意Private▼ Negative
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Ningbo Hanyi, Bestore's controlling shareholder, lost the first-instance equity transfer dispute and was ordered to pay 5 million yuan in penalty to Guangzhou Light Industry.

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