Fujian Sanwood Group Co., Ltd.
Announcement on the Progress of Major Litigation
The Company and the Board of Directors guarantee that the information disclosed is true, accurate, and complete, with no false records, misleading statements, or material omissions.
Fujian Sanwood Group Co., Ltd. (hereinafter referred to as the "Company" or "Sanwood Group")'s holding subsidiary, Fuzhou Light Industry Import & Export Co., Ltd. (hereinafter referred to as "Light Industry Company"), is involved in a financial loan contract dispute with the Fuzhou Branch of China Minsheng Bank Co., Ltd. (hereinafter referred to as "Minsheng Bank Fuzhou Branch"). Due to Light Industry Company's failure to repay the loan and other fees in a timely manner, some of its bank accounts have been frozen. In accordance with the relevant provisions of the "Shenzhen Stock Exchange Stock Listing Rules," the progress of the litigation is hereby announced as follows:
I. Basic Situation of the Major Litigation
Minsheng Bank Fuzhou Branch has filed a lawsuit against Light Industry Company, Sanwood Group, Chen Jian, Liao Xinghua, and Song Huan regarding a financial loan contract dispute with the People's Court of Taijiang District, Fuzhou City, case number (2026) Min 0103 Min Chu No. 6866. Minsheng Bank Fuzhou Branch's main claims include: requiring Light Industry Company to repay the principal of three tranches of working capital loans totaling RMB 29.07 million and corresponding interest, penalty interest, and compound interest; repaying the advanced due bill payment of RMB 9.6998 million and penalty interest; paying the bank acceptance bill credit line of RMB 10 million and penalty interest; and requesting confirmation of its pledge right over RMB 10 million in the guarantee deposit account of Light Industry Company. At the same time, it requests Sanwood Group, Chen Jian, Liao Xinghua, and Song Huan to bear joint and several liability for the aforementioned debts, and to bear attorney fees and litigation-related expenses.
For details of the above case, please refer to the "Announcement on the Major Litigation Involving a Holding Subsidiary and the Freezing of Some Bank Accounts" disclosed by the Company on July 15, 2026, on the information disclosure media designated by the China Securities Regulatory Commission (Announcement No.: 2026-77).