Shanghai Metersbonwe Fashion & Apparel Co., Ltd. (hereinafter referred to as "the Company") held the 24th meeting of the 6th Board of Directors on April 29, 2026, to review and approve the proposal regarding the Company's uncovered losses reaching one-third of the total paid-in capital. The specific situation is announced as follows:
1. Overview
According to the audit report No. 2314 issued by Beijing Zhongming Guocheng Accounting Firm (Special General Partnership), as of December 31, 2025, the Company's consolidated balance sheet shows an undistributed profit of -3,459,415,009.87 yuan, while the paid-in capital is 2,512,500,000.00 yuan, indicating that the uncovered losses have reached one-third of the total paid-in capital. According to the relevant provisions of the Company Law of the People's Republic of China and the Articles of Association of Shanghai Metersbonwe Fashion & Apparel Co., Ltd., this matter needs to be submitted to the shareholders' meeting for deliberation.