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The Central Mall announced that the company received a civil ruling from the court on November 12, 2026, ruling to accept the bankruptcy and liquidation application of Suzhou Zhongshang Land Co., Ltd., a wholly-owned control subsidiary. Suzhou China Commercial Land has had no actual business activities for a long time, is insolvent, and has no ability to continue operating. After the manager takes over, the company will lose its actual control and will no longer be included in the scope of the consolidated financial statements. The company has no guarantee or joint liability for its debts, and will not generate new contingent liabilities. This matter is expected to bring profit contributions to the company's current consolidated statement. The specific amount is based on the annual audit results, and there is uncertainty about the follow-up process of bankruptcy and liquidation.
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The Central Mall announced that the company received a civil ruling from the court on November 12, 2026, ruling to accept the bankruptcy and liquidation application of Suzhou Zhongshang Land Co., Ltd., a wholly-owned control subsidiary. Suzhou China Commercial Land has had no actual business activities for a long time, is insolvent, and has no ability to continue operating. After the manager takes over, the company will lose its actual control and will no longer be included in the scope of the consolidated financial statements. The company has no guarantee or joint liability for its debts, and will not generate new contingent liabilities. This matter is expected to bring profit contributions to the company's current consolidated statement. The specific amount is based on the annual audit results, and there is uncertainty about the follow-up process of bankruptcy and liquidation.
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