Securities Code: 000826
Securities Abbreviation: *ST Qihuan
Announcement Number: 2026-059
TUS HOLDINGS CO., LTD.
Announcement on Signing Restructuring Investment Agreement with Industrial Investor and Co-action of Industrial Investor
The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed in this announcement, and that there are no false records, misleading statements, or material omissions therein.
Special Risk Warning:
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The "Restructuring Investment Agreement of TUS HOLDINGS CO., LTD." signed with the industrial investor is subject to the risk of termination or cancellation due to the occurrence of stipulated circumstances. There is also a risk that the industrial investor may fail to perform its obligations under the agreement in a timely manner. Please pay attention to investment risks.
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The decision by the Intermediate People's Court of Yichang (hereinafter referred to as "Yichang Court") to initiate pre-restructuring proceedings for TUS HOLDINGS CO., LTD. (hereinafter referred to as "TUS Holdings" or "the Company") does not signify that the court has formally accepted the company's restructuring application. The pre-restructuring procedure is intended to assess the company's restructuring value and potential, and to improve the efficiency of subsequent restructuring work. As of the date of this announcement, the Company has not yet received any legal documents from the court accepting the restructuring application. Therefore, it remains uncertain whether the restructuring application will be accepted by the court and whether the Company will enter into restructuring proceedings.
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Given that the Company's net assets attributable to the parent company as audited for 2025 were negative, it has been subject to a delisting risk warning in accordance with Article 9.3.1 of the "Shenzhen Stock Exchange Stock Listing Rules (2026 Revision)". Furthermore, the Company's net profit after deducting non-recurring gains and losses for the last three consecutive accounting periods was negative. The 2025 audit report indicates that the Company faces significant operating and financial risks, which may cast doubt on its ability to continue as a going concern. This triggers Article 9.8.1 of the "Shenzhen Stock Exchange Stock Listing Rules (2026 Revision)", and the Company's stock trading has been subject to an additional risk warning. If any of the circumstances stipulated in Article 9.3.12 of the "Shenzhen Stock Exchange Stock Listing Rules (2026 Revision)" occur in 2026, the Shenzhen Stock Exchange will decide to terminate the listing of the Company's stock.
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If the court accepts the restructuring application filed by the applicant, the Shenzhen Stock Exchange will impose a delisting risk warning on the Company's stock trading in accordance with the relevant regulations of the "Shenzhen Stock Exchange Stock Listing Rules (2026 Revision)".
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If the court accepts the restructuring application and the restructuring is successfully completed, it will help improve the Company's operating and financial condition and promote its return to a sustainable development track. However, even if the court accepts the restructuring application, there remains a risk of bankruptcy and liquidation if the restructuring fails. If the Company is declared bankrupt due to restructuring failure, according to the relevant regulations of the "Shenzhen Stock Exchange Stock Listing Rules (2026 Revision)", the Company's stock will face the risk of delisting.
I. Basic Situation of Pre-Restructuring