Jintongling Technology 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.
Special Reminder:
- This equity change is due to the execution of the "Restructuring Plan of Jintongling Technology Group Co., Ltd." (hereinafter referred to as "the Restructuring Plan"), resulting in changes to the Company's controlling shareholder and actual controller, which does not trigger a tender offer.
- The 710,511,267 shares from the capital increase in the Restructuring Plan have been transferred from the Company's bankruptcy estate disposal special account to the designated securities account of Huitongda Network Co., Ltd. (hereinafter referred to as "Huitongda").
- Huitongda now holds 710,511,267 shares, accounting for 25.00% of the Company's total share capital, making it the largest shareholder. The original controlling shareholder, Nantong Industrial Holding Group Co., Ltd. (hereinafter referred to as "Nantong Industrial"), has seen its shareholding ratio passively reduced to 15.54%. The controlling shareholder has changed from Nantong Industrial to Huitongda, and the actual controller has changed from the State-owned Assets Supervision and Administration Commission of the Nantong Municipal Government to Wang Jianguo.
I. Background of the Equity Change
On December 31, 2025, the Intermediate People's Court of Nantong City, Jiangsu Province (hereinafter referred to as "Nantong Intermediate Court") ruled to accept the applicant's restructuring application for the Company and appointed the liquidation team of Jintongling Technology Group Co., Ltd. as the temporary administrator during the pre-restructuring phase. For specific details, please refer to the announcement disclosed by the Company on December 31, 2025, titled "Announcement on the Court's Ruling to Accept the Company's Restructuring and Appoint an Administrator" (Announcement No.: 2025-055).
On January 16, 2026, the Company disclosed the "Draft Restructuring Plan of Jintongling Technology Group Co., Ltd.", "Operational Plan of the Draft Restructuring Plan of Jintongling Technology Group Co., Ltd.", and "Equity Adjustment Plan of the Draft Restructuring Plan of Jintongling Technology Group Co., Ltd." On February 2, 2026, the meeting of the investors' group voted to approve the "Equity Adjustment Plan of the Draft Restructuring Plan of Jintongling Technology Group Co., Ltd." For specific details, please refer to the announcement disclosed by the Company on February 3, 2026, titled "Announcement on the Resolution of the Investors' Group Meeting" (Announcement No.: 2026-006).
On February 2, 2026, the first creditors' meeting during the restructuring period voted to approve the "Draft Restructuring Plan of Jintongling Technology Group Co., Ltd." For specific details, please refer to the announcement disclosed by the Company on February 3, 2026, titled "Announcement on the First Creditors' Meeting and Voting Results" (Announcement No.: 2026-007).
On February 3, 2026, the Company received the Civil Ruling (2025) Su 06 Po 56 No. 3 from the Nantong Intermediate Court. The court ruled to approve the "Restructuring Plan" and terminate the Company's restructuring procedure, entering the execution phase of the restructuring plan. For specific details, please refer to the announcement disclosed by the Company on February 3, 2026, titled "Announcement on the Court's Approval of the Restructuring Plan" (Announcement No.: 2026-008).