ST Gaga announced that the registration deadline for investors in the bankruptcy and restructuring case of Hunan Excellence Investment Co., Ltd., the company's former controlling shareholder, was extended to September 18, 2026, and the recruitment plan and delivery methods are still subject to the announcement issued on April 13, 2026. Up to now, Excellent Investment holds 216 million shares of the company, accounting for 19.55% of the total share capital, and is the second largest shareholder of the company; all of its holdings have been frozen and pending freezing, and the cumulative pledged shares account for 99.81% of its total shareholding. There is uncertainty about whether the excellent investment restructuring will be successful. It has not yet had a significant impact on the company's daily production and operation. Currently, the company's production and operation are normal.

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