JIU RONG HOLD (02358) received summons from the court for two of its subsidiaries.

Jiu Rong Hold (02358) announces that on July 3, 2026, two of the Group's subsidiary companies received a lawsuit notification from the People's Court of Shangcheng District, Hangzhou City. The lawsuit was filed by Shanghai Pudong Development Bank Co., Ltd. Hangzhou Branch (plaintiff) against Zhejiang Jiu Rong Intelligent Technology Co., Ltd. (first defendant) and Jiu Rong New Energy Technology Co., Ltd. (second defendant, together referred to as the "defendants") (both defendants are indirect wholly-owned subsidiaries of the Company) regarding a financial loan contract dispute, with case number (2026) Zhe 0102 Min Chu 15751. According to the civil complaint, the plaintiff requests the following relief: 1. Order the first defendant to return the domestic letter of credit advance principal of RMB 12,888,000, and pay advance penalty interest of RMB 84,577.5 (the advance penalty interest is calculated up to May 18, 2026, and the penalty interest from then until the actual repayment date shall be calculated according to the contract), totaling RMB 12,972,577.5. 2. Order the second defendant to assume joint guarantee responsibility for the above-mentioned debt. 3. Order the defendants to bear the litigation costs and related expenses. The Board of Directors hereby informs that the case is currently in the court-appointed mediation stage. According to the Court's "Consent to Extend Mediation Period", both parties agree to extend the mediation period after the expiration of the mediation period, which shall not exceed 30 days. The Group is actively communicating and negotiating with the plaintiff to seek a friendly resolution to the dispute through mediation. After preliminary evaluation, the Board of Directors believes that due to the debt default, the Company and its subsidiaries may have to bear corresponding default penalties and interest. Depending on the outcome of the litigation, this may lead to an increase in the Group's financial expenses and further impact the Group's financing, as well as exacerbate cash flow pressure. Despite the above-mentioned lawsuit, the main business segments of the Group overall remain in normal commercial operation.