Lian Shi Airlines: The company's restructuring plan has been approved by the court and will enter the implementation phase.

LiAn Airlines announced that on November 12, 2025, the company received a "Civil Judgment" sent by the Chengdu Intermediate People's Court, which approved the company's reorganization plan and terminated the reorganization process. The company will enter the stage of implementing the reorganization plan, which, if successful, will be conducive to optimizing the asset-liability structure, enhancing continuous operation and profitability, and impacting the financial data of the year 2025. However, the company's stock has already been subject to delisting risk warning, and if any issues arise during the execution of the reorganization plan, the company's stock will face the risk of delisting.