Kairui De Holdings Co., Ltd. (hereinafter referred to as the "Company") and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
On June 11, 2020, the Company received a "Notice Letter" from the administrator of Zhejiang Fifth Season Industrial Co., Ltd. (hereinafter referred to as "Zhejiang Fifth Season"), along with the "Civil Ruling" (Case No. [2020] Zhe 01 Po Shen 25) and the "Decision" ([2020] Zhe 01 Po 26) from the Hangzhou Intermediate People's Court, informing that the Company's shareholder Zhejiang Fifth Season has been declared bankrupt by the Hangzhou Intermediate People's Court. The relevant details are announced as follows:
1. Basic Case Information
According to the "Civil Ruling" (Case No. [2020] Zhe 01 Po Shen 25) and the "Decision" ([2020] Zhe 01 Po 26) from the Hangzhou Intermediate People's Court, the Company has learned the following:
- Applicant: Hangzhou Taxation Bureau Inspection Bureau of the State Administration of Taxation (hereinafter referred to as "Inspection Bureau")
- Respondent: Zhejiang Fifth Season Industrial Co., Ltd.
In April 2020, the Inspection Bureau applied to the Hangzhou Intermediate People's Court for the bankruptcy liquidation of Zhejiang Fifth Season due to its inability to pay overdue taxes. The Hangzhou Intermediate People's Court found that Zhejiang Fifth Season was established on March 25, 2020, with a registered capital of 250 million RMB, and is a limited liability company (natural person investment or holding). The shareholders are Kellyze Investment (Shenzhen) Co., Ltd., Wu Lianmo, and Pang Bo.