Smart Powerr Corp. (CREG) has reported accrued litigation expenses totaling $2.10 million as of December 31, 2024. These expenses are related to an ongoing lawsuit from Beijing Hongyuan Recycling Energy Investment Center (Hongyuan) against Xian TCH.
The litigation has resulted in judgments against the company's subsidiary, contributing to the significant expense. Additionally, interest on a repaid loan remains outstanding as part of this legal matter.
This financial obligation represents a continued legal and financial risk for CREG. The company is managing these ongoing legal challenges while pursuing its strategic business transformation.
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