reply to any thoughts understanding.
How much is 90 million yuan? Is it about 13-14 million US?
Sounds like there are a lot of problems trying to produce any turbines. Maybe AVIC wanted money from Hi Tech for the order stating that Hi Tech guaranteed the order. Then Hi Tech said there was a breach of contract for failure to fulfill, so the guarantee doesn't apply. And, anyway maybe they are saying that AVIC's beef should be with ruixiang in the first place, not Hi Tech. maybe the claim was dismissed and recommended to arbitration? Just guessing of course. They mention that the guarantee was conditional. naturally. But the whole thing seems to have been ongoing since 2010. maybe it will be worked out. maybe AVIC was incompetent. Or maybe Hi Tech didn't follow through, and its the same as with GE transport. still, disputes are not good. Can't we all just get along? lol.
one more thing regarding my previous posts about the website reappearance and the other US listed company whose work papers were recently released and who last month released 2011 financials. That other US listed company also has a website that doesn't seem to have been updated in years. And the whole time I was thinking that the spinning star deal was a very good reason to come back to a US listing for APWR, but with so many court problems producing the turbines and gearboxes and such. I wonder whether the problems are manufacturing related and/or accounting related or both or what. Well, at least there is periodic activity to have something to post about on this board. Lets hope that soon there is something positive materially to post about.
AI
