According to the Northeast Securities announcement, on July 18, 2026, Yatai Group, the largest shareholder of the company, was restructured and pre-restructured by creditor Changchun Rongxing from the Changchun Intermediate Court. As of July 20, Yatai Group had not received relevant legal documents, and it is uncertain whether the application will be accepted. Yatai Group holds 30.81% of the company's shares, with a cumulative pledge of 49.25%. If Yatai Group enters into pre-restructuring or restructuring procedures, it may affect the company's shareholding structure, and the restructuring matters that it previously intended to transfer the company's shares may be suspended or terminated. Dongwu Securities will pay close attention to the repayment of principal and interest on the bonds.

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