Kangde Xin Composite Materials Group 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, without false records, misleading statements, or major omissions.
On July 24, 2019, the Company disclosed the announcement titled "Announcement on Receipt of Case Acceptance Notice from the Beijing High People's Court" (Announcement No. 2019-153), which mentioned that the Company and its three wholly-owned subsidiaries, Zhangjiagang Kangde Xin Optoelectronic Materials Co., Ltd., Zhangjiagang Free Trade Zone Kangde Feier Industrial Co., Ltd., and Beijing Kangde Xin Functional Materials Co., Ltd. (hereinafter referred to as "the Company and three wholly-owned subsidiaries") had a contractual dispute with Beijing Bank Co., Ltd. and Beijing Bank Co., Ltd. Xidan Branch (hereinafter referred to as "Beijing Bank and Xidan Branch"). The case was accepted by the Beijing High People's Court (hereinafter referred to as "Beijing High Court") on July 22, 2019.