Booming Environment: Court rules to accept the pre-reorganization of the subsidiary and appoints a trustee.

Wangneng Environment announced that on November 12, 2025, the company received a document from Deqing Court, ruling to accept the company's pre-reorganization application for its holding subsidiary Zhejiang Lixin, with the application filed on November 5th. Zhejiang Lixin was established on March 15, 2018, with a registered capital of 52.5 million RMB. Deqing Court has approved Zhejiang Zeda Law Firm to act as the temporary administrator for the pre-reorganization. Accepting the pre-reorganization is beneficial for carrying out related cleanup work early, formulating plans, and increasing the success rate of reorganization. However, there is uncertainty as to whether Zhejiang Lixin will be able to enter the reorganization process and successfully reorganize.