Trademark injection arbitration has progressed, and Jiaduobao paid COFCO Packaging 2.500 million sincerity gold

On March 20th, COFCO Packaging, a port company listed in the COFCO Group, announced that based on the arbitration result of not injecting the Jiaduobao trademark as an in-kind investment based on the agreement, the Jiaduobao Group expressed its hope that a proper solution will be reached as soon as possibleAnd has paid 2.USD 500 million as a good faith fund is expected to join the plan and the initial preliminary completion.On October 31, 2017, COFCO Packaging announced that it would add USD 2 billion to Qingyuan Jiaduobao Herb Technology Co., Ltd. and hold 30 yuan.58% of the shares.According to the capital increase agreement of COFCO Packaging Investment Co., Ltd., an investment company affiliated with COFCO Packaging, Jiaduobao Trademark Holding Company, Qingyuan Jiaduobao Herbs and its existing shareholders, Jiaduobao Trademark Holding Company will inject relevant funds into Qingyuan Jiaduobao.Jiaduobao trademark, with a price of 3 billion yuan, accounts for 45 yuan of Qingyuan Jiaduobao.87% of the shares; Qingyuan Jiaduobao’s original shareholder Zhishou Co., Ltd. accounted for 23 of Qingyuan Jiaduobao.55% of the shares.On July 6, 2018, COFCO Packaging announced that Jiaduobao Wanglaoji (registered company of Jiaduobao), which was registered in Hong Kong, China, had not yet merged the commitment of injecting the Jiaduobao trademark in kind according to the capital increase agreement.Regarding related matters, COFCO Packaging Investment filed an arbitration application with Hong Kong International Arbitration Center against Hong Kong Wanglaoji Company, Zhishou Company and Qingyuan Jiaduobao Herbs on July 6 of the same year.On November 14, 2019, COFCO Packaging received the “Partial Arbitration Judgment” issued by the Hong Kong International Arbitration Center on October 31 of the same year, confirming that Wang Laoji’s application to terminate the capital increase agreement was invalid, and Wang Laoji was required to compensate COFCO Packaging for about 2.30,000 yuan, and pay interest of about 773.480,000 yuan.In addition, Wang Laoji should inject Jiaduobao trademark into Qingyuan Jiaduobao according to the capital increase agreement and complete the relevant trademark injection procedure, and Qingyuan Jiaduobao must also cooperate with relevant trademark injection procedures.Sauna, Ye Wang Wang Yang, editor Li Yan proofreading Li Shihui