ST Zhong Yan: Intends to apply for reorganization and pre-reorganization to the court

*Announcement from ST Zhongyan: The company held the 31st interim meeting of the fifth board of directors on July 17, 2026, and approved the proposal of "Application for Reorganization and Pre-reorganization to the Court". According to the first quarter report of 2026, as of March 31, 2026, the company had a year-end balance of cash and cash equivalents of approximately 2.21 billion yuan, short-term borrowings of approximately 3.46 billion yuan, and non-current liabilities due within one year of approximately 10.72 billion yuan. The company plans to apply for pre-reorganization and reorganization to the Chengdu Intermediate People's Court on the grounds that its cash funds are insufficient to pay off maturing debts, but it has reorganization value. This matter still needs to be approved by the shareholders' meeting.