Announcement on Court Acceptance of Subsidiary's Restructuring Application
The Company and all members of the Board of Directors guarantee the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or material omissions.
On September 8, 2025, WN Environment Co., Ltd. (hereinafter referred to as the "Company") held its 9th Board of Directors meeting, the 12th session, and approved the "Proposal on Applying for Pre-Restructuring of Zhejiang Lixin for Bankruptcy." The Company agreed to apply to the court for bankruptcy restructuring of Zhejiang Lixin New Material Technology Co., Ltd. (hereinafter referred to as "Zhejiang Lixin") as a creditor and to initiate pre-restructuring procedures. For details, please refer to the "Announcement on Applying for Pre-Restructuring of Zhejiang Lixin for Bankruptcy" (Announcement No.: 2025-75) published on September 9, 2025, in the Securities Times, Securities Daily, Shanghai Securities News, and on the Juchao Information Network.
On November 12, 2025, the Company and its holding subsidiary Zhejiang Lixin received a "Notice" (2025) ZHE 0521 PO SHEN 36 and a "Decision" (2025) ZHE 0521 PO SHEN 36 from the People's Court of Deqing County, Zhejiang Province (hereinafter referred to as the "Deqing Court"). The court accepted the Company's application for pre-restructuring of Zhejiang Lixin and agreed that Zhejiang Zexin (Huzhou) Law Firm would serve as the interim administrator for Zhejiang Lixin's pre-restructuring. For details, please refer to the "Announcement on Court Acceptance of Subsidiary's Pre-Restructuring and Appointment of Pre-Restructuring Administrator" (Announcement No.: 2025-95) published on November 14, 2025, in the Securities Times, Securities Daily, Shanghai Securities News, and on the Juchao Information Network.
On August 3, 2026, the Company received a "Civil Ruling" (2025) ZHE 0521 PO SHEN 36 from the Deqing Court, ruling to accept Zhejiang Lixin's bankruptcy restructuring application. The relevant situation is hereby announced as follows:
Basic Information on the Court's Acceptance of the Subsidiary's Restructuring
- Basic Information of the Applicant
Company Name: WN Environment Co., Ltd.
Date of Establishment: July 7, 1998
Registered Address: No. 288 Tianziwei Road, Deqing County, Huzhou City, Zhejiang Province
Legal Representative: Shan Chao