The company and all members of the board guarantee that the content of the information disclosure is true, accurate, and complete, without false records, misleading statements, or significant omissions.
Important Notice:
- As of the date of this announcement, the company's controlling shareholder, Zhejiang Xiaobei Damei Holdings Co., Ltd. (hereinafter referred to as "Xiaobei Damei Holdings"), holds a total of 132,629,471 shares of the company, accounting for 12.28% of the total share capital. Among these, the number of pledged or frozen shares is 131,105,171, accounting for 98.85% of its holdings.
- Xiaobei Damei Holdings and its pre-restructuring administrator signed a "Restructuring Investment Agreement" with Jinhua Zhenhe Enterprise Management Partnership (Limited Partnership) (hereinafter referred to as "Jinhua Zhenhe") on March 17, 2026. On March 23, 2026, the Intermediate People's Court of Jinhua City, Zhejiang Province (hereinafter referred to as "Jinhua Intermediate Court") ruled to accept the bankruptcy restructuring application submitted by Xiaobei Damei Holdings. The company recently received the Jinhua Intermediate Court's "Civil Ruling" ([2026] Zhe 07 Po 2 No. 1), which approved the "Restructuring Plan of Zhejiang Xiaobei Damei Holdings Co., Ltd." (hereinafter referred to as "Restructuring Plan") and terminated the restructuring procedure for Xiaobei Damei Holdings.
- The restructuring investor, Jinhua Zhenhe, will control a total of 13.35% of the company's shares through the following arrangements: (1) Jinhua Zhenhe will directly acquire 100% of Xiaobei Damei Holdings, thereby indirectly holding 12.28% of the company's shares; (2) Jinhua Yuanheng Enterprise Management Partnership (Limited Partnership) (hereinafter referred to as "Jinhua Yuanheng") has obtained 1.07% of the company's shares through block trading, and both it and Jinhua Zhenhe's executive partner are Zhejiang Jinhui Sunshine Asset Service Co., Ltd., with the actual controller being the State-owned Assets Supervision and Administration Commission of Jinhua City (hereinafter referred to as "Jinhua State-owned Assets Supervision Commission"), constituting concerted actors under relevant laws and regulations. After the implementation of the Restructuring Plan, the company's control will change, and the actual controller will change to the Jinhua State-owned Assets Supervision Commission. The relevant information disclosure obligors will disclose the equity change report and financial advisor's verification opinions within three trading days from the occurrence of the fact.
- This equity change is executed in accordance with a judicial ruling and does not trigger a tender offer.
- This equity change still requires the completion of the following matters: (1) According to the arrangements of the Restructuring Plan, after the court's approval of the Restructuring Plan, relevant creditors should promptly lift the pledge measures on Bei Yin Mei shares and no longer have any rights to such collateral. Before the 100% equity of the controlling shareholder Xiaobei Damei Holdings is judicially transferred to Jinhua Zhenhe, all pledge and judicial freeze rights restrictions will be lifted. (2) The transferee must obtain approval or filing from internal decision-making bodies and the competent state-owned assets regulatory authority (if required); (3) Regulatory authorities must confirm the compliance of this share transfer.
- The company has independent and complete business and operational capabilities, and is independent from the controlling shareholder in terms of business, personnel, assets, institutions, and finance. The aforementioned matters of Xiaobei Damei Holdings will not have a significant impact on the company's daily production and operations. The company's production and operation are normal.