Shareholder of Hua'ao Trust Holdings Goes Bankrupt and Reorganizes, Latest Developments

Recently, the Caixin Real Estate Development Group Co., Ltd. announced that on December 16, the company received a notification from the administrator that, due to feedback from some creditors that they were unable to complete the on-site voting for the "Substantial Merger and Restructuring Plan of Chongqing Caixin Enterprise Group Co., Ltd. and 13 other companies" and the "Proposal for the Establishment of a Creditors' Committee", further internal approval process needed to be completed, so an extension of the voting time was requested. Caixin Development stated in the announcement that, in order to fully respect and protect the rights of creditors, the meeting decided to extend the creditors' voting period until 24:00 on January 9, 2026.