ST Xinhua Golden: Controlling shareholders Lu Jin Group and Xinhua Jin Group go bankrupt and reorganize.

ST Xinhua Jin announced that the bankruptcy reorganization application of the company's controlling shareholder Shandong Lu Jin Import and Export Group Co., Ltd. and indirect controlling shareholder Xinhua Jin Group Co., Ltd. has been accepted by the People's Court of Shinan District, Qingdao City, Shandong Province. Creditors must declare their claims to the administrator before March 14, 2026, and the first creditors' meeting is scheduled to be held on March 20, 2026. As of the date of the announcement, Xinhua Jin Group and its affiliates have not returned 406 million yuan of non-operating funds borrowed from the company. The company will declare its claims in the bankruptcy process. Currently, the company's production and operation are normal, but there is uncertainty regarding the change in control.