After nearly two years entangled in a massive 210 million yuan contract dispute, jewelry company Chow Tai Sang (SZ002867) finally received its final verdict — and it’s far lighter than expected. The company will pay only 2.78 million yuan.
On the evening of October 21, Chow Tai Sang announced that it had received the civil judgment notice confirming that the second-instance ruling upheld the original verdict, officially closing the case.
In the first trial, the court ordered Chow Tai Sang to compensate Shenzhen Shuibeika Information Technology Co., Ltd. (Shuibeika) 2.78 million yuan, while dismissing other claims. Shuibeika appealed, but the higher court maintained the initial judgment.
The company explained that it had already made a full bad debt provision for the amount, meaning the decision will not affect its current or future profits.
The dispute dates back to early 2022, when Chow Tai Sang planned to launch a joint telecom marketing project — the “Chow Tai Sang·Beika” package — with Shuibeika and China Unicom’s Shenzhen branch. The project was canceled before launch, leading to contractual conflict and Shuibeika’s subsequent lawsuit.
At one point, several of Chow Tai Sang’s bank accounts were frozen, involving 210 million yuan in claims and about 80.4 million yuan in frozen funds.
Now, the long-standing high-stakes case has finally reached its conclusion — and Chow Tai Sang has successfully avoided a financial storm.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Proceed with caution.
