ST Longda announced that the company received a decision from the Yantai Intermediate People's Court on July 9, 2026. The creditor, Shandong Laiyang Rural Commercial Bank Co., Ltd. applied to the court to restructure the company and commence pre-restructuring procedures on the grounds that the company was unable to pay its maturing debts and clearly lacked solvency but had restructuring value. The court decided to commence pre-restructuring of the company. During the pre-restructuring period, the company will fulfill its obligations to continue to do a good job in production and operation, carefully decide on business matters, and properly maintain asset value. The existing management team will continue to be responsible for daily operation management and normal production and operation under the guidance and supervision of the temporary manager. The company has not received the relevant legal documents from the court to accept the restructuring application, and there is uncertainty about whether it will enter into the restructuring process later.

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