HILONG (01623) has not reached any agreement with the special group regarding the restructuring terms of the bills.

HILONG (01623) has announced that, in accordance with the terms of the notes, all outstanding principal amounts of the notes, together with accrued and unpaid interest, are due and payable on the maturity date of November 18, 2024. The company hereby notifies its stakeholders that the outstanding principal amount of the notes of 315 million US dollars, together with accrued and unpaid interest, was not paid on the maturity date of the notes in 2024, constituting a default under the notes. As of the date of this announcement, the company has not reached any agreement with the ad hoc group regarding the restructuring terms of the notes. Nevertheless, the company continues to engage in constructive discussions with the ad hoc group and its advisors in order to reach agreement on the various financial terms as soon as practicable. In this regard, the group will continue to provide significant updates on the notes restructuring process to all stakeholders as appropriate.