A-share Code: 601166 A-share Name: Industrial Bank No.: T 2015-37
Preferred Share Code: 360005, 360012 Preferred Share Name: IBPS1, IBPS2
Industrial Bank Co., Ltd.
Announcement on Judgment of First Instance on the Litigation Matters
The Company and all the members of the Board of Directors warrant the truthfulness, accuracy and completeness of the announcement and will bear the joint and several liability for any false record, misleading statement or major omission in the announcement.
Important content notes:
●Litigation stage: The judgment is of the first instance.
●Legal status of the listed company as a party in the litigation: The Company and Fujian Xingyin Property Management Co., Ltd. are both defendants.
●Subject matter of litigation: the 3.0888 million shares of the Company held by Xingyin Property and the corresponding dividends managed by the Company on behalf of the shareholder.
●Influence to profits and losses of the listed company: This litigation is helpful to settle relevant outstanding equity issue in a proper manner, and will have no influence on the profits and losses of the Company.
The Company received the “Civil Judgment” ((2015) Min Min Chu Zi No. 100) served by Fujian Provincial High People′s Court recently, in which the judgment of first instance was given on the case that Mr. Ch’en Wen-Te, a Taiwan resident, sued Fujian Xingyin Property Management Co., Ltd. and the Company regarding the relevant outstanding equity issue. Now, the relevant matters are announced as follows:
I. Basic facts of the litigation
1. The time of receiving the judgment of first instance: December 24, 2015
2. Parties to the litigation
(1) Plaintiff: Mr. Ch’en Wen-Te (Unified No. of Taiwan Resident Identity Card: F100996525)
(2) Defendant 1: Fujian Xingyin Property Management Co., Ltd. (hereinafter referred to as “Xingyin Property”)
(3) Defendant 2: Industrial Bank Co., Ltd.
II. Facts and requests of the litigation
The plaintiff Mr. Ch’en Wen-Te, a Taiwanese, claimed that he had purchased 550,000 ordinary shares issued by the Company in 1988, lost contact with the Company later and lost the subscription payment certificate. After a number of changes including bonus issue and capitalization, the number of such shares has increased to 3.0888 million, which are now held by Xingyin Property on behalf of the shareholder under the entrustment of the Company, and the dividends over those years are managed by the Company on behalf of the shareholder. The plaintiff requested to confirm that the 3.0888 million shares held by Xingyin Property and the dividends managed by the Company on behalf of the shareholder are owned by the plaintiff, and was willing to bear the court acceptance fees of the case. See the “Announcement on Settlement of Outstanding Issue Regarding the Equity of Mr. Ch’en Wen-Te, A Taiwanese Shareholder by Way of Litigation” on August 27, 2015.
III. Information of the litigation judgment
Through trial, Fujian Provincial High People′s Court ruled in the “Civil Judgment” ((2015) Min Min Chu Zi No. 100) as follows:
1. It is confirmed that the 3.0888 million shares of Industrial Bank Co., Ltd. under the name of “Ch’en Wen-Te” held by Xingyin Property on his behalf belong to the plaintiff Ch’en Wen-Te. Xingyin Property shall, upon the ruling comes into effect, register the foregoing shares under the name of Ch’en Wen-Te through Shanghai Branch of China Securities Depository and Clearing Corporation Limited whereas the relevant taxes will be borne by the plaintiff.
2. It is confirmed that the aforesaid dividends managed by Industrial Bank Co., Ltd. on his behalf belong to the plaintiff Ch’en Wen-Te.
3. The court acceptance fees of the case shall be borne by the plaintiff Ch’en Wen-Te.
If dissatisfied with the judgment, the plaintiff Ch’en Wen-Te may, within 30 days upon the day when the judgment is served, and the defendants Xingyin Property and the Company may, within 15 days upon the day when the judgment is served, submit a petition of appeal to Fujian Provincial High People′s Court, appealing to the Supreme People’s Court.
IV. Influence of the litigation to the Company
This judgment is the decision of first instance, and the Company will announce the progress in the issue in a timely manner. This litigation is helpful to settle relevant outstanding equity issue in a proper manner, and will have no impact on the profits and losses of the Company in or after the current period.
It is hereby to announce as foregoing.
Board of Directors of Industrial Bank Co., Ltd.
December 25, 2015