ST Derun: Guarantee Litigation Progress, Partial Bank Accounts and Assets Unfrozen

ST Derun announced that the company and its subsidiaries provided joint guarantees for the borrowing of Chongqing Meida, the original controlling subsidiary. Due to Chongqing Meida's failure to fulfill its repayment obligations, Agricultural Bank sued and applied for property preservation, resulting in the freezing and seizure of some of the company's bank accounts and assets. Recently, Bishan Court ruled to maintain the freezing of Derun Building property, lift the freezing of dormitories and factory buildings in Guangming Industrial Park, and lift the freezing of bank accounts under the company's name. Currently, the unfreezing process for the factory buildings is still in progress, and all 7 frozen bank accounts have been unfrozen on March 3-4, with a frozen amount of 0 yuan. The accounts have returned to normal use.