ST Longyuan announced that the company received a notice from the Ningbo Intermediate Court. The creditor Shanghai Zhenkun Building Materials Trading Co., Ltd. applied to the Ningbo Intermediate Court to restructure the company on the grounds that the company was unable to pay its maturing debts and clearly lacked solvency, but had restructuring value. As of the date of disclosure of the announcement, the company had not received documents from the court deciding to pre-restructure or decide to accept the restructuring application. There is significant uncertainty about whether the relevant application will be accepted and whether the company will enter into the pre-restructuring or restructuring process. After self-inspection, the company had no major illegal forced delisting, no related party's occupation of non-operating capital, or illegal external guarantees, and all relevant commitments were fulfilled normally. Other risk warnings have been applied to the company's stock. If the court decides to accept the restructuring, the delisting risk warning will be superimposed; if the restructuring fails and the company's stock is declared bankrupt, the company's stock will face the risk of termination of listing.

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