Zhejiang Bangjie Holding Group Co., Ltd.
Announcement Regarding Creditor's Application for Company Reorganization
The Company and the entire Board of Directors guarantee that the information disclosed is true, accurate, and complete, with no false records, misleading statements, or major omissions.
Special Risk Warning:
(I) Uncertainty Regarding Whether the Company Will Enter Reorganization Proceedings
As of the disclosure date of this announcement, the company's pre-reorganization work is in progress. Please refer to subsequent announcements for specific developments. The company being applied for reorganization does not mean the court will ultimately accept the applicant's reorganization application, and there is significant uncertainty as to whether the company will enter reorganization proceedings. Regardless of whether the company enters reorganization proceedings, the company will continue to actively manage its daily production and operations on the existing basis. If the company receives the court's document accepting the reorganization application, it will promptly fulfill its information disclosure obligations.
(II) Warning of the Risk of Stock Being Subject to Delisting and Termination of Listing
As of the disclosure date of this announcement, the company has not yet received relevant legal documents from the court regarding the acceptance of the reorganization application. According to Article 9.4.1 (IX) of the Shenzhen Stock Exchange Stock Listing Rules, if the court rules to accept the applicant's reorganization application, the Shenzhen Stock Exchange will impose a delisting risk warning on the company's stock. Investors are advised to pay attention to investment risks.
If the reorganization fails and the company is declared bankrupt, the company's stock may face the risk of termination of listing. If the court accepts the applicant's reorganization application and the reorganization is successfully completed, it will help improve the company's balance sheet structure and promote healthy development. However, even if the court formally accepts the reorganization application, there remains a risk of the company being declared bankrupt and undergoing bankruptcy liquidation due to reorganization failure. If the reorganization fails, the company will face the risk of being declared bankrupt. If the company is declared bankrupt, according to the relevant provisions of the Stock Listing Rules, the company's stock will face the risk of termination of listing. Investors are advised to pay attention to investment risks.
(III) The Company's Stock Has Already Been Subject to a Delisting Risk Warning and Other Risk Warnings
-
On April 25, 2026, the company disclosed its "2025 Annual Report." The audited annual report shows that the company's net assets at the end of 2025 were negative. According to Article 9.3.1, Paragraph 1, Item 2 of the Shenzhen Stock Exchange Stock Listing Rules (hereinafter referred to as the "Stock Listing Rules"), the company's stock trading has been subject to a delisting risk warning.
-
The audited annual report shows that the lower of net profit before and after deducting non-recurring gains and losses for 2025 was also negative. Furthermore, the company's 2025 financial report received an unqualified audit opinion with a paragraph on the material uncertainty related to going concern. In addition, the lower of net profit before and after deducting non-recurring gains and losses for 2023 and 2024 were both negative. According to Article 9.8.1 (VII) of the Stock Listing Rules, the company's stock trading has been subject to other risk warnings.
I. Overview of the Company Being Applied for Reorganization by a Creditor
On December 6, 2025, Zhejiang Bangjie Holding Group Co., Ltd. (hereinafter referred to as the "Company") disclosed the "Announcement Regarding Creditor's Application for Pre-Reorganization" (Announcement No.: 2025-117). The creditor, Suzhou Huanxiu Lake Zhuguang Enterprise Management Partnership (Limited Partnership) (hereinafter referred to as "Huanxiu Lake Zhuguang" or the "Applicant"), submitted an application to the Intermediate People's Court of Jinhua City, Zhejiang Province (hereinafter referred to as "Jinhua Intermediate Court" or the "Court") for pre-reorganization of the Company, stating that the Company is unable to repay its due debts and its assets are insufficient to repay all debts, but it possesses reorganization value.