Hylink Digital's Shanghai branch has applied for arbitration of an advertising-fee dispute involving more than RMB100 million (US$15 million).
Qoros owes RMB100,469,370 (US$15,161,527) for advertising services, according to Hylink Digital in an arbitration notice filed yesterday (link in Chinese) with the Shanghai International Economic and Trade Arbitration Commission.
The notice stated that an advertising contract was signed on 24 April 2015 between Hylink and Qoros, with relevant service fees incurred for the past 30 months to a total of RMB138 million, out of which the above amount still remained in arrears.
Hylink is also requesting interest on overdue payments based on the interest rate of loans from the People's Bank of China, amounting to RMB4.8 million (US$726,714) as of 12 November.
Qoros is a car brand from a Shanghai-based venture between China's Chery Automobile and investment company Israel Corp launched in 2011, with branding work last seen in 2014 from BBH and Mindshare China.
Hylink and Qoros executives have not responded to requests for further comment.