Announcement on Progress of Public Recruitment and Selection of Restructuring Investors
The Company and the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or material omissions.
Special Reminder:
On June 5, 2026, Huayi Brothers Media Co., Ltd. (hereinafter referred to as the "Company" or "Huayi Brothers") disclosed the "Announcement on Public Recruitment and Selection of Restructuring Investors" (Announcement No.: 2026-040). As of the disclosure date of the announcement, the work of selecting restructuring investors is still in progress, and the final selection result is uncertain. Investors are advised to pay attention to the risks.
I. Overview of the Company's Pre-Restructuring
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On April 15, 2026, the Company received a "Letter of Notification" from its creditor, Beijing Taireifeike Technology Co., Ltd. (hereinafter referred to as the "Applicant"). The Applicant applied to the Intermediate People's Court of Jinhua City, Zhejiang Province (hereinafter referred to as the "Jinhua Intermediate Court" or the "Court") to rule that the Company undergo restructuring on the grounds that the Company is unable to repay its due debts and clearly lacks solvency, but possesses restructuring value, and applied for pre-restructuring of the Company. Please refer to the "Notice of Pre-Restructuring Application Against the Company" (Announcement No.: 2026-013) disclosed by the Company on April 15, 2026.
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On April 23, 2026, the Jinhua Intermediate Court issued the (2026) Zhe 07 Po Shen 2 "Decision," deciding to initiate pre-restructuring for the Company and appointing Zhong Lun Law Firm (Shanghai) and Zhejiang Zhiren Law Firm as the temporary administrators for the Company's pre-restructuring (hereinafter referred to as the "Temporary Administrators") to be responsible for carrying out various tasks. Please refer to the "Announcement on the Court's Decision to Initiate Pre-Restructuring for the Company and Appoint Temporary Administrators" (Announcement No.: 2026-015) disclosed by the Company on April 23, 2026.