Taiwan High Court notified Lungteh Shipbuilding's (TPE:6753) chairman, Huang Shou-Chen, that prosecutors have appealed his not-guilty verdict in a corruption case related to military shipbuilding.
The Taoyuan District Court had acquitted him in August 2024, but prosecutors contested the ruling, according to a Monday Taiwan Exchange filing.
The shipbuilding company reiterated that it completed the project in full compliance with legal and contractual requirements, and expects no impact on its operations or finances.
Shares of Lungteh Shipbuilding gained about 3% recently.
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