Huaying's Emergency Punishment Was Rejected. Today, It Will Lodge A Protest In Accordance With The Law.

Huaying's application for emergency punishment was rejected and will lodge a protest in accordance with the law today.

As early as the evening of December 28 last year, news came out that Huaying's application for emergency disposal was rejected and will be protested according to law.

Hua Ying said that the company applied to the Taoyuan District Court of Taiwan for an urgent disposition and received the main text of the court's ruling:“If the application is rejected, the application procedure fee shall be borne by the applicant.”

On December 13, Huaying announced that it would apply to the court for reorganization and emergency disposal. Huaying said that because of the default of debts between the company and its subsidiaries, the bank had the right to declare a breach of contract and demand repayment of all loans, resulting in a larger operating gap. However, the company believed that there was still an opportunity to change its operating mode and restructure, so it decided to apply to the court for reorganization and emergency disposal.

Hua Ying pointed out that as of September last year, the total debt of individual financial statements was NT$34.8 billion. In response to media reports, Hua Ying also announced that investments in mainland China were approved by the competent authorities according to regulations and disclosed in quarterly financial reports according to regulations. Except for US$8 million, Taiwan remitted investments in mainland China Ying Optoelectronics in 1993 and US$325.43 million in 2001. By the third area Bermuda Co., Ltd. to invest in mainland Huaying Optoelectronics, Huaying Television, Fuzhou Huaying Television, Fujian Huaguan Optoelectronics, Shenzhen Huaying Optoelectronics, the rest of the company has no cash to invest in the mainland.

Huaying said that since 1993, the total amount of investment in the mainland has been about 10 billion yuan, which is far from the amount of investment reported by the media in China by the company, and that it is planning to take legal action with lawyers.

Huaying's application for reorganization and emergency punishment, the court rejected the emergency punishment, whether it caused further action of creditor's bank and creditor deserves attention, Huaying is expected to send a protest today.