Zhejiang Aikang New Energy Technology Co., Ltd. (hereinafter referred to as "the Company") announces that its holding subsidiary, Zhejiang Aikang Optoelectronics Technology Co., Ltd. (hereinafter referred to as "Zhejiang Aikang Optoelectronics" or "the Respondent"), received a notification from the Changxing People's Court of Zhejiang Province (hereinafter referred to as "Changxing Court") on July 16, 2024, regarding the acceptance of the reorganization application. The creditor, Jiangyin Kangda Packaging Products Co., Ltd. (hereinafter referred to as "the Applicant"), applied to the Changxing Court for bankruptcy reorganization on the grounds that Zhejiang Aikang Optoelectronics is unable to repay its due debts and is evidently lacking in repayment capability. The Changxing Court has registered the case under the bankruptcy application number "破申" (Bankruptcy Application) for the Respondent.
Recently, Zhejiang Aikang Optoelectronics received a "Civil Ruling" from the Changxing Court, which accepted the Applicant's bankruptcy reorganization application. Zhejiang Aikang Optoelectronics will enter the bankruptcy reorganization process and intends to actively communicate with strategic partners, shareholders, and creditors during the reorganization to protect investor equity, introduce strategic investors, optimize the debt structure, and resume production as soon as possible, thereby protecting the rights of small and medium investors. If the reorganization is unsuccessful, the bankruptcy reorganization will convert to bankruptcy liquidation. The Company will closely monitor the subsequent developments of this matter and fulfill its information disclosure obligations in a timely manner, urging investors to pay attention to investment risks.