Stock Code: 000068 Stock Abbreviation: High-Tech Progress Announcement No.: 2026-19
Shenzhen High-Tech Progress Co., Ltd. Announcement on the Progress of Arbitration Enforcement
The Company and all members of the Board of Directors guarantee the content of the information disclosure is true, accurate, and complete, and that there are no false records, misleading statements, or major omissions.
Special Notes:
- Arbitration Stage: Enforcement and mediation.
- Company's Party Status: Arbitration applicant and respondent.
- Amount Involved: Involves the return of subsidy funds of RMB 50 million and related interest, compensation, etc.; involves the compensated recovery of land compensation principal of RMB 48.8909 million and related interest, compensation, etc., with the remaining balance of RMB 110.91 million after offsetting.
- Impact on the Company: The parties have reached a mutual mediation agreement. The Qitaihe Commercial Arbitration Mediation Center has issued a "Mediation Letter" (No. (2026) Qi Shang Tiao Zi No. 11), which has been confirmed as valid by the People's Court of Xin'an District, Qitaihe City. The company has paid the remaining balance of the industrial subsidy funds of RMB 110.91 million as agreed. As of the date of this announcement, all monetary payment obligations have been fully fulfilled. The content of this mediation is the result of voluntary and equal negotiation among the parties and does not harm the legitimate rights and interests of the company and all shareholders. Investors are advised to invest rationally and pay attention to investment risks.
I. Basic Situation of Arbitration Matters
In June 2025, Heilongjiang Aoyuan New Materials Co., Ltd. (hereinafter referred to as "Heilongjiang Aoyuan"), a third-level subsidiary of Shenzhen High-Tech Progress Co., Ltd. (hereinafter referred to as "the Company"), applied for arbitration with the Qitaihe Arbitration Commission due to a land dispute with the Qitaihe Municipal Bureau of Natural Resources and Planning. In the same month, the People's Government of Xin'an District, Qitaihe City, applied for arbitration with the Qitaihe Arbitration Commission due to a dispute over government subsidies with the Company and Heilongjiang Aoyuan. On March 18, 2026, the Company received the "Arbitration Award" issued by the Qitaihe Arbitration Commission. The arbitration situation was detailed in the Company's announcements on June 27, 2025, "Announcement on Subsidiary's Application for Arbitration" (Announcement No.: 2025-31), "Announcement on Company and Subsidiary Receiving Arbitration Application" (Announcement No.: 2025-32), and on July 24, 2025, "Announcement on Arbitration Progress and Receipt of Counter-Application" (Announcement No.: 2025-39), August 6, 2025, "Announcement on Arbitration Progress and Receipt of Increased Arbitration Application" (Announcement No.: 2025-41), and March 19, 2026, "Announcement on Receipt of Arbitration Award and Arbitration Progress" (Announcement No.: 2026-05).