ST Changfang: Beijing Jin Du and Guohao law firms are confirmed to jointly serve as the restructuring coordinators.

ST Changfang announced that the company has been applied for restructuring and out-of-court reorganization by creditors. Recently, the company received a letter from the Fuyuan Enterprise Reorganization Service Center, confirming that Beijing Jindu (Shenzhen) Law Firm and Guohao Law Firm (Shenzhen) are the restructuring coordinators, with lawyer Wu Jia as the person in charge. The restructuring coordinators are required to perform various duties such as identifying the value of the restructuring. There is uncertainty as to whether the company can reach an out-of-court restructuring agreement with relevant parties, and currently it has not entered any bankruptcy proceedings. Investors are reminded to be aware of the risks.