Kailong Technology: Loss in the second instance of a dispute over the infringement of technological secrets, considering applying for a retrial.

Kailong Technology announced that the second instance judgment of the infringement of technology secrets dispute case between the company, Zhao Chuang, and Hanshen Materials Company has been issued, the Jiangsu High People's Court overturned the first instance judgment and dismissed all claims of the company. The amount involved is 185 million yuan, the first instance judgment required Zhao Chuang et al. to stop infringement and compensate the company for economic losses of 5 million yuan, plus reasonable costs of 500,000 yuan. In response to the second instance judgment, the company plans to apply for a retrial to the higher court in accordance with the law and will handle the accounting in accordance with the execution situation and accounting standards.