ST Mei Valley: Court ruling accepts company reorganization.

*ST Meigu Announcement, November 18, 2024, the company received a "Notice Letter" from Guangzhou Lu Jian Financial and Tax Consulting Co., Ltd., a creditor, and a "Notice" from the Intermediate People's Court of Xiangyang City, Hubei Province. The applicant applied to the Xiangyang Intermediate Court for reorganization and pre-reorganization of the company, stating that the company has failed to repay mature debts, and has clearly lacked the ability to repay but has certain reorganization value. On December 3, 2024, the company received Decision No. E 06 Poshen 48 issued by the Xiangyang Intermediate Court, deciding to initiate pre-reorganization of the company. On December 5, 2024, the company received Decision No. E 06 Poshen 48-1 issued by the Xiangyang Intermediate Court, appointing Aoyuan Meigu Technology Co., Ltd. Liquidation team as the temporary administrator of the company.