Announcement on Court's Appointment of Restructuring Administrator for Subsidiary and Commencement of Claims Filing and First Creditors' Meeting
This announcement is made by the Board of Directors of WN Environment Co., Ltd. All members of the Board of Directors guarantee the content of the information disclosed is true, accurate, and complete, with no false representations, misleading statements, or material omissions.
Important Notice:
On September 8, 2025, WN Environment Co., Ltd. (hereinafter referred to as "the Company") held its twelfth meeting of the ninth Board of Directors, which deliberated and approved the "Proposal on Applying for Pre-restructuring of Holding Subsidiary Zhejiang Lixin." The Company agreed to apply to the court for the bankruptcy pre-restructuring of Zhejiang Lixin New Materials Technology Co., Ltd. (hereinafter referred to as "Zhejiang Lixin") as a creditor and to apply for the pre-restructuring procedure. For details, please refer to the "Announcement on Applying for Bankruptcy Pre-restructuring of Holding Subsidiary Zhejiang Lixin" (Announcement No.: 2025-75) published in the Securities Times, China Securities Journal, Shanghai Securities News, and on the Juchao Information Network on September 9, 2025.
On November 12, 2025, the Company and its controlled subsidiary Zhejiang Lixin received the "Notice" (2025) ZHE 0521 PO 36 and the "Decision" (2025) ZHE 0521 PO 36 from the People's Court of Deqing County, Zhejiang Province (hereinafter referred to as "Deqing Court"). The court ruled to accept the Company's application for pre-restructuring of Zhejiang Lixin and agreed to appoint Zhejiang Zeda (Huzhou) Law Firm as the temporary administrator for Zhejiang Lixin during the pre-restructuring period. For details, please refer to the "Announcement on Court's Ruling to Accept Subsidiary's Pre-restructuring and Appoint Pre-restructuring Administrator" (Announcement No.: 2025-95) published in the Securities Times, China Securities Journal, Shanghai Securities News, and on the Juchao Information Network on November 14, 2025.