JIU RONG HOLD (02358) subsidiary Jiurong New Energy received a summons issued by the People's Court of Shangcheng District, Hangzhou City

JIU RONG HOLD (02358) announces that on 21 September 2026, Jiurong New Energy, a subsidiary of the Group, received a summons issued by the People's Court of Shangcheng District, Hangzhou City (the Court). The legal proceedings were initiated by the Wangjiang Sub-district Office of the People's Government of Shangcheng District, Hangzhou City (the Plaintiff) against Jiurong New Energy (an indirectly wholly-owned subsidiary of the Company) in respect of a land lease contract dispute, with case number (2026) Zhe 0102 Min Chu No. 24053. The Court has scheduled the hearing of this case for 28 September 2026. According to the civil complaint, the Plaintiff has made the following claims: (i) an order that the Defendant pay the outstanding site rent totaling RMB2,909,008.02; (ii) an order that the Defendant pay interest arising from late payment of rent (interest to be calculated at the one-year LPR until the date of actual settlement); (iii) an order that the Defendant immediately vacate the leased site and pay the Plaintiff an occupation fee for the site from 1 July 2026 until the date of actual vacating of the site. Following preliminary assessment, the Board considers that, depending on the outcome of the litigation, the Group may be required to bear the outstanding rent, interest and site occupation fee, and may be required to vacate the above leased site, or this may have an adverse impact on the Group's financial position and cash flow. The Group's principal business segments remain in normal operation.