Huicheng Technology
HI FUTURE
Stock Code: 002168
Stock Abbreviation: ST Huicheng
Announcement Number: 2026-050
Announcement Regarding Creditor's Application for Restructuring
The Company and the entire Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed in this announcement, and that there are no false records, misleading statements, or material omissions.
Special Notice:
-
As of the disclosure date of this announcement, Chongqing Huicheng Information Technology Co., Ltd. (hereinafter referred to as the "Company") is in pre-restructuring proceedings, and related work is progressing in an orderly manner. The Company has not yet received relevant court documents accepting this restructuring application. The application submitted by the applicant to the court for restructuring the Company does not include its subsidiaries. Whether the creditor's application will be accepted by the court and whether the Company will subsequently enter the restructuring procedure remains uncertain. In accordance with the "Summary of the Work Meeting on Effectively Hearing Corporate Bankruptcy and Restructuring Cases of Listed Companies" and other relevant requirements, the Company's restructuring matters ultimately require an affirmative reply from the China Securities Regulatory Commission and an approval from the Supreme People's Court.
-
In accordance with the "Shenzhen Stock Exchange Stock Listing Rules" and other relevant regulations, if the court legally accepts the creditor's application for restructuring the Company, the Company's stock will be subject to a delisting risk warning. If the court rules to accept the Company into the restructuring procedure, and the restructuring fails, the court will terminate the Company's restructuring procedure and declare the Company bankrupt, and the Company's stock will face the risk of termination of listing.
-
Due to the Company's audited net profit after deducting non-recurring gains and losses being negative for the years 2023-2025, and the 2025 audit report indicating uncertainty in the Company's ability to continue as a going concern due to the restructuring matter, the Company's stock has been subject to other risk warnings since March 31, 2026.
I. Overview of the Event
(I) Overview of the Application for Restructuring
On August 4, 2025, the Company disclosed the "Announcement Regarding Creditor's Application for Pre-Restructuring" (Announcement Number: 2025-060) on the Juchao Information Network (www.cninfo.com.cn). The Company's creditor, Chongqing Lvfa Asset Management Co., Ltd. (hereinafter referred to as "Lvfa Asset" or "Applicant"), applied to the Chongqing Fifth Intermediate People's Court (hereinafter referred to as "Chongqing Fifth Court" or "Court") for pre-restructuring of the Company, stating that the Company is unable to pay its due debts and clearly lacks solvency, but possesses restructuring value. This application does not include the Company's subsidiaries.
According to the "Chongqing Fifth Intermediate People's Court Interim Provisions on the衔接 Work Between Pre-Restructuring and Bankruptcy Restructuring (Trial)", the Chongqing Fifth Court has completed the filing and registration of the Company's pre-restructuring. The debtor has no objection to this pre-restructuring filing and registration matter. With the consent of the Company's major creditors, the Company has appointed Beijing Tian Yuan Law Firm and Tianjian Certified Public Accountants (Special General Partnership) Chongqing Branch as the joint auxiliary institutions for the Company's pre-restructuring (hereinafter referred to as "Auxiliary Institutions").
Recently, the Company received a "Letter of Notification" from the creditor Lvfa Asset. Lvfa Asset applied to the Chongqing Fifth Court for restructuring of the Company, stating that the Company is unable to pay its due debts and clearly lacks solvency, but possesses restructuring value. This application does not include the Company's subsidiaries. As of the disclosure date of this announcement, the Company has not yet received relevant court documents accepting the restructuring application. Whether Lvfa Asset's application will be accepted by the court and whether the Company will subsequently enter the restructuring procedure remains uncertain.