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(Original title: Two suppliers claimed 1.85 billion yuan and Daquan Energy was awarded 3.1581 million yuan in the first instance)

It took more than a year from the filing of the lawsuit to the first-instance judgment.energy(SH688303, share price 18.40 yuan, market value 39.467 billion yuan) in the first instance of the lawsuit with two suppliersVerdictThe supplier originally requested that Daquan EnergycompensationThe amount of loss is far from the amount of compensation awarded in the first instance judgment.

On July 17, Daquan Energy disclosed that it had entered into a strategic partnership with Xinjiang Xian'an New Materials Co., Ltd. and Xinjiang Dengbo New Energy Co., Ltd. (hereinafter referred to as Xian'an New Materials and Dengbo New Energy, respectively, and collectively referred to asplaintiff)'s lawsuit was finally decided at the first instance.CourtsThe court ruled that Daquan Energy should pay the plaintiff RMB 3.1581 million.

In June 2023, the plaintiff filed a lawsuit for the first time, at that time the plaintiff demanded compensation of 388 million yuan; in September 2023, the plaintiff changed the lawsuit request, requesting that the compensation amount be adjusted to nearly 2 billion yuan; in May 2024, Daquan Energy disclosed that the plaintiff changed and withdrew part of the lawsuit request, and the amount involved was adjusted to 1.85 billion yuan.

Judging from the final first-instance judgment, the reason for the small amount of the judgment was that a lawsuit for compensation for loss of profits in the amount of 1.826 billion yuan was rejected by the court.

The plaintiff changed his claims several times

According to previous disclosure by Daquan Energy, Xian'an New Materials and Dengbo New Energy are affiliated companies, both of which provide silicon core processing services to Daquan Energy. Daquan Energy provides polysilicon materials, Xian'an New Materials is responsible for silicon rod pulling, and Dengbo New Energy is responsible for silicon core cutting.

This tripartite cooperation started in 2022. In January 2022, Daquan Energy first signed a "Business Cooperation Agreement" with Xian'an New Materials, stipulating that Daquan Energy would lease the factory to Xian'an New Materials for use as a crystal pulling production plant, and Xian'an New Materials and its affiliates would provide silicon core processing services.

In July 2022, Daquan Energy signed an "annual contract" with Dengbo New Energy, agreeing to entrust Dengbo New Energy to cut silicon cores and arrange silicon rod crystal pulling, and the specific silicon rod crystal pulling work was carried out by Xian'an New Materials. However, after the expiration of the "annual contract" (April 30, 2023), the two parties did not renew the new contract, and since April 19, 2023, Daquan Energy has not issued a purchase order to Dengbo New Energy.

Therefore, the plaintiff believed that Daquan Energy and its affiliates had turned to cooperation with other suppliers on their own, which constituted a fundamental breach of the "Business Cooperation Agreement". In June 2023, the plaintiff filed a lawsuit with the court, requesting the termination of the "Business Cooperation Agreement" between Daquan Energy and Xian'an New Materials, and requiring Daquan Energy to compensate for economic losses of 388 million yuan.

In September 2023, the plaintiff applied to change the lawsuit request again, and this time the amount of compensation required was greatly increased to 1.959 billion yuan. Because it exceeded the scope, the case was transferred to the Intermediate People's Court of the Eighth Division of the Xinjiang Production and Construction Corps for adjudication.

In May 2024, Daquan Energy disclosed again that the plaintiff changed and withdrew some of the claims, and the amount involved was reduced to approximately 1.85 billion yuan.

Pay within 10 days after the judgment takes effect

According to media reports, in the face of the plaintiff's huge compensation amount, a staff member of Daquan Energy's securities department once said: "We are a listed company and have an obligation to disclose information. We cannot rule out the possibility that the other party deliberately raised the amount to force the company to disclose the litigation situation and force the company to compromise."

Judging from the final first-instance judgment, the amount that Daquan Energy was ordered to pay was far from 1.85 billion yuan.

From the plaintiff's claims, there are two main points. On the one hand, the plaintiff requested to terminate the "Business Cooperation Agreement". This lawsuit request was supported by the court, confirming that the rights and obligations of both parties will be terminated on December 31, 2023. On the other hand, it is a series of claims for loss compensation due to Daquan Energy's violation of the "Business Cooperation Agreement", including the joint profit loss of 1.826 billion yuan for Xian'an New Materials and Dengbo New Energy, and the related project investment losses, plant rental and media fee losses, and personnel salary losses totaling 20.1735 million yuan.

In the first-instance judgment, the claim for compensation for lost profits was not supported by the court, and only 3.0581 million yuan of compensation for other related losses was supported.

A reporter from the "Daily Economic News" noticed that in Daquan Energy's previous disclosure, it was believed that in the lawsuit request for compensation for lost profits, Dengbo New Energy was not a signatory to the "Business Cooperation Agreement". At the same time, the amount of the lawsuit was unilaterally estimated by the plaintiff based on the combined expected profits of Xian'an New Materials and Dengbo New Energy during the longest duration of the "Business Cooperation Agreement", and did not represent the amount agreed in the "Business Cooperation Agreement" or its actual losses.

According to the first-instance judgment, Daquan Energy needs to pay the plaintiff a total of 3.1581 million yuan, and pay it off within 10 days after the judgment takes effect.

Daquan Energy said that according to the first-instance judgment, the amount that the company needs to bear will not have an adverse impact on the company's daily production and operation, and will not have a significant adverse impact on the company's current and future profits and losses. In addition, since this judgment is a first-instance judgment, it is still within the appeal period as of July 17, and the final result is still uncertain. The specific impact on the company will be based on the actual implementation of the effective judgment.