InterContinental ST: The appeal case of bankruptcy liquidation of the controlling shareholder has not been heard or may involve a change in control.

ST Intercontinental announced that the controlling shareholder of the company, Guangxi Zhenghe, has been applied for bankruptcy liquidation. The applicant, Zhang Youjin, is not satisfied with the ruling of Liuzhou Intermediate People's Court and has appealed to Guangxi High Court to revoke the original ruling. Currently, Guangxi High Court has accepted the case but has not yet held a hearing, and the uncertainty of whether the application will be supported exists. As of the disclosure date of the announcement, Guangxi Zhenghe holds 508 million shares of the company, of which 508 million shares have been pledged and all are frozen on hold. If the appeal is supported, there may be changes in the company's controlling rights, but this matter will not have a significant adverse impact on the company's daily operations.