Wingtech Technology has announced that a dispute has arisen between its subsidiary, Wingtech India, and Luxshare-ICT concerning the transaction of a business asset package in India. Both parties have escalated the issue to the Singapore International Arbitration Centre for resolution. Luxshare-ICT is seeking to terminate the agreement and has requested that Wingtech India refund the 1.977 billion Indian rupees already disbursed. Conversely, Wingtech Technology insists on the continued execution of the agreement and is demanding payment of the remaining consideration, amounting to approximately 160 million yuan. As of the announcement's publication, the transfer of the relevant business asset package has been successfully completed. However, it's important to note that the procedures for transferring the ownership of the Indian land in question have not yet been finalized. The registration process for changing ownership of other underlying assets has been duly completed, with no ongoing arbitration or litigation proceedings. Presently, Wingtech Technology is proactively formulating legal countermeasures to protect its interests.