ST Longda announced that the creditor, Shandong Laiyang Rural Commercial Bank Co., Ltd., applied to the Yantai Intermediate Court to restructure the company and commence pre-restructuring procedures on the grounds that the company was unable to pay its maturing debts and clearly lacked solvency but had restructuring value. The Yantai Intermediate Court has decided to commence pre-restructuring of the company. As of the date of disclosure of the announcement, the company has not received relevant legal documents from the court to accept the restructuring application, and there is uncertainty as to whether it will enter into the restructuring process in the future. After self-investigation, the company had no major illegal forced delisting situations, the use of non-operating capital by related parties, and illegal external guarantees; the controlling shareholder failed to complete the Wucang Agriculture and Animal Husbandry share transfer promise on schedule, and has entrusted the company to manage the shares. If the court accepts the restructuring application, the company's shares will be superimposed on a delisting risk warning. If the restructuring fails and the company's shares are declared bankrupt, the company's shares will face the risk of termination of listing.

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