ST Longyuan announced that it received a “Notice” from the Ningbo Intermediate Court on August 13. The creditor Shanghai Zhenkun Building Materials Trading Co., Ltd. applied for restructuring and pre-restructuring of the company on the grounds that the company was unable to pay due debts and clearly lacked solvency, but had restructuring value. As of the disclosure date of the announcement, the company had not received documents deciding to pre-restructure or decide to accept the restructuring application, and there is significant uncertainty about the results. If the court decides to accept the restructuring application, a “delisting risk warning” will be implemented in addition to the company's shares. If the restructuring fails, there is a risk that the company will be declared bankrupt and the stock listing terminated.

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