Securities Code: 000908 Securities Abbreviation: ST Jingfeng Announcement No.: 2026-058 ST Group Hunan Jingfeng Pharmaceutical Co., Ltd. Announcement on the Reply to the Inquiry Letter Regarding the 2025 Annual Report
The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or material omissions.
ST Group Hunan Jingfeng Pharmaceutical Co., Ltd. (hereinafter referred to as the "Company" or "Jingfeng Pharmaceutical") received the "Inquiry Letter Regarding the 2025 Annual Report of ST Group Hunan Jingfeng Pharmaceutical Co., Ltd." (Company Department Annual Report Inquiry Letter [2026] No. 117) issued by the First Supervision Department of the Shenzhen Stock Exchange. The Company has organized relevant parties to thoroughly investigate the issues involved in the annual report inquiry letter and now replies to the relevant issues as follows:
Issue 1: Company restructuring and debt issues. (1) Explain the specific plan for debt repayment in the restructuring plan, the repayment ratio, and the specific accounting treatment. Confirm whether debt restructuring gains are recognized and the basis for it, and whether it complies with the relevant provisions of the "Accounting Standards for Business Enterprises."
Company Reply:
I. Debt Repayment Plan
-
Employee Claims Employee claims will be paid in full in cash by Jingfeng Pharmaceutical within 20 working days after the court approves the restructuring plan and the claims are confirmed by the court.
-
Tax Claims Tax claims will be paid in full in cash by Jingfeng Pharmaceutical within 20 working days after the court approves the restructuring plan and the claims are confirmed by the court.
-
General Claims General claims will be paid in cash by Jingfeng Pharmaceutical in a lump sum within the subsequent restructuring plan implementation period for the portion of each general creditor's claim that is less than or equal to RMB 2 million (inclusive). For the portion of each general creditor's claim exceeding RMB 2 million, the following repayment options can be chosen:
(1) Deferred Payment Plan For the portion of each general creditor's claim exceeding RMB 2 million, it will be repaid in cash with a deferred payment plan, with a maximum deferral period of 2 years, and no interest will be accrued during the deferral period. During the deferral period, the creditor's right to claim against other debtors (including but not limited to the principal debtor) for the unpaid portion of their claim (including contractually agreed or legally stipulated interest) shall not be affected, nor shall it affect the right of other guarantors or principal debtors to repay the debt to the creditor in accordance with relevant contracts and legal provisions.
(2) Cash Repayment Plan Each general creditor will receive cash repayment within 90 days from the date the restructuring plan is approved by the court, with a repayment ratio of 90%. The remaining unpaid claim portion will be waived upon completion of the restructuring plan, and Jingfeng Pharmaceutical will no longer bear the repayment responsibility. General creditors with claims exceeding RMB 2 million (including temporarily confirmed creditors) should submit a notification of their chosen repayment method in writing in the format required by the restructuring plan within 10 working days from the date the court approves the restructuring plan. If the creditor fails to notify within the time limit, it will be deemed that the full amount is chosen to be repaid under the "Cash Repayment Plan" of the general creditor repayment method.
- Subordinated Claims Repayment Plan Punitive claims such as civil punitive damages, administrative fines, and criminal fines involving Jingfeng Pharmaceutical will be subordinated to other general claims. Due to the fact that general claims have not been fully repaid, no repayment resources will be arranged for subordinated claims.