Kairui De Holdings Co., Ltd. and all members of the board guarantee that the content of this announcement is true, accurate, and complete, and that there are no false records, misleading statements, or major omissions.
On December 8, 2020, the Jingmen Intermediate People's Court of Hubei Province (hereinafter referred to as "Jingmen Intermediate Court" or "Court") ruled to approve the "Reorganization Plan of Kairui De Holdings Co., Ltd." (hereinafter referred to as "Reorganization Plan"), terminating the reorganization procedure of Kairui De Holdings Co., Ltd. (hereinafter referred to as "Kairui De" or "Company"). The Company has now entered the execution phase of the Reorganization Plan, and various execution tasks are progressing in an orderly manner. The relevant situation is announced as follows:
I. Progress of Reorganization
On November 5, 2021, Kairui De received the (2021) E 08 Bankruptcy Application No. 1 "Civil Ruling" and (2021) E 08 Legal Committee Identification No. 34 "Decision" from the Jingmen Intermediate Court, which ruled to accept the Company's reorganization application and designated the liquidation group of Kairui De Holdings Co., Ltd. as the administrator of the Company. Creditors are required to declare their claims to the Company's administrator by December 5, 2021. The first creditors' meeting is scheduled to be held on December 6, 2021, at 2:00 PM at the conference room on the third floor of Kairui De Company, located at No. 201, Peigong Avenue, Duodao District, Jingmen City, Hubei Province (Xingang International Trade City, Building C4-1).