Overview of the Situation
On January 29, 2026, Guangdong Quanwei Technology Co., Ltd. (hereinafter referred to as "the Company") received a notice from Qingdao Taishang Qingyang Supply Chain Management Co., Ltd. (hereinafter referred to as "the Creditor" or "the Applicant"), stating that the Company is unable to repay its due debts and lacks repayment capability, but has restructuring value. The Creditor applied to the Dongguan Intermediate People's Court (hereinafter referred to as "Dongguan Court") for the Company's restructuring. For details, please refer to the Company's announcements disclosed on the Giant Tide Information Network (https://www.cninfo.com.cn/) on February 2, 2026 (Announcement No.: 2026-012) and March 4, 2026 (Announcement No.: 2026-022).
Court's Decision to Initiate Pre-restructuring
On June 3, 2026, the Company received the pre-restructuring acceptance notice and decision (2026) Yue 19 Po Shen 38 from the Dongguan Court. The Dongguan Court decided to initiate pre-restructuring for the Company and appointed Guangdong Shangkuan Law Firm as the pre-restructuring administrator to organize relevant pre-restructuring work. The pre-restructuring period is six months, starting from the date of delivery of this notice, and may be extended by three months upon the administrator's application for justified reasons.