ST Mubang: wholly-owned subsidiary applies for restructuring and pre-restructuring by creditors

*ST Mu Bang announced that its wholly-owned subsidiary Jiangxi Jierui has received a "Notice" from the Nanchang Intermediate People's Court. Creditor Shanghai Langli has applied to the Nanchang Intermediate People's Court for reorganization or pre-reorganization of Jiangxi Jierui, citing its inability to repay the due debts and insufficient assets to repay all debts. Jiangxi Jierui is an important segment of the company's photovoltaic business. If the reorganization is successful, it will help alleviate its debt risks; if it fails, it will face bankruptcy liquidation, which will have a negative impact on the company's consolidated financial statements. As of the disclosure date of this announcement, Jiangxi Jierui has not yet received any documents from the court initiating pre-reorganization or accepting reorganization applications, and there is significant uncertainty regarding this matter.