ST Zhengping: Reply to the Shanghai Stock Exchange Regulatory Work Letter stating that there is no intentional destruction of financial information.

ST Zhengping announced that the company has replied to the regulatory work letter from the Shanghai Stock Exchange, explaining issues related to missing financial and business information, the risk of delisting due to negative net assets, impairment of accounts receivable and contract assets. The company stated that there is no intentional destruction, concealment, or fabrication of financial and business information, and that all project documentation has been collected, organized, and archived. Regarding the risk of negative net assets, the company stated that they have fully considered the recoverability risk of long-aged receivables and long-term unsettled contract assets, and that the provision for asset impairment is higher than the industry average. Zhongruicheng Accounting Firm, the annual audit firm, has issued verification opinions on these matters.