Aurora: The court ruled to accept the bankruptcy liquidation of the wholly-owned subsidiary.
Aurora announced that the board of directors met on October 21, 2024 and agreed to the application for bankruptcy liquidation of its wholly-owned subsidiary, Qitaihe Aurora Optoelectronic Technology Co., Ltd. On June 23, 2025, Qitaihe Aurora received a civil ruling from the Qitaihe Intermediate People's Court in Heilongjiang Province, accepting the application for bankruptcy liquidation of Qitaihe Aurora. Qitaihe Aurora has been out of production since 2020, and this bankruptcy liquidation will not have a significant impact on the company's ongoing operations. After entering into bankruptcy proceedings, Qitaihe Aurora will no longer be included in the company's consolidated financial statements. The impact of the bankruptcy liquidation on the company's current or future profits is uncertain, and the actual impact will be determined by the results of the bankruptcy liquidation execution and the audit by the auditor.
Latest