ST announced that on July 29, 2026, the company received a decision from the Beijing First Intermediate Court, decided to initiate pre-restructuring of the company, and appointed the liquidation team of Hesong Technology Co., Ltd. as the temporary manager during the pre-restructuring period. Initiating pre-restructuring by the court does not mean that the application for restructuring is officially accepted; there is uncertainty about whether the company will enter into the restructuring process later. If the court decides to accept the restructuring application, the Shenzhen Stock Exchange will issue a delisting risk warning for the company's shares. If the restructuring fails, there is a risk that the company will be declared bankrupt and the stock listing will be terminated.

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