LOVEVIEW: Shanghai Yuanzhen applies to Beijing Arbitration Commission for arbitration

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On the afternoon of August 2, Sina Technologies News announced that Shanghai Yuanzhen had requested arbitration to award a total of 224 million yuan in investment and interest calculated to July 3, 2019, for the acquisition of all shares of the company by Shanghai Yuanzhen, Lele Interactive and Beijing Pengyi. RMB.
Regarding the impact of arbitration, the announcement said that the company believed that the listed company should not assume the responsibility of repurchase in this case. The aforementioned cases did not fulfill the procedures of examination and approval, examination and signing stipulated in the Company Law and the Articles of Association of the Company, and that the listed company had no right of agency or contracting acts beyond the right of agency. No legal effect occurs.