BANGJIE's subsidiary Yangzhou BANGJIE has been filed for bankruptcy reorganization

According to the Zhitong Finance APP, BANGJIE (002634.SZ) announced that the company recently received the "Notice from the People's Court of Yangzhou Economic and Technological Development Zone, Jiangsu Province" ((2025) Su 1091 Po Shen 16 No. 1) and other materials regarding the pre-restructuring application of Yangzhou BANGJIE New Energy Technology Co., Ltd. (referred to as "Yangzhou BANGJIE"). It was learned that the creditor, Industrial Bank Co., Ltd. Suzhou Branch (referred to as "creditor" or "applicant"), applied to the court for pre-restructuring of Yangzhou BANGJIE on the grounds that the company's controlling secondary subsidiary, Yangzhou BANGJIE, cannot repay its due debts and is obviously lacking in repayment ability but has restructuring value. The court has accepted the case for review.

Currently, the creditor has submitted a pre-restructuring application to the court, but there is significant uncertainty regarding whether the court will rule to accept the application and whether Yangzhou BANGJIE will enter bankruptcy restructuring procedures. During the court's review of the case, the company will cooperate with the court to study and demonstrate the feasibility of Yangzhou BANGJIE's restructuring in accordance with the law. If the court rules that Yangzhou BANGJIE enters pre-restructuring, the company will exercise its rights as a shareholder and creditor in accordance with the law, cooperate with the court and the administrator's restructuring work, actively discuss solutions to the debt issues with all parties while balancing and protecting the legitimate rights and interests of all parties, and strive for support from relevant parties to ensure the smooth progress of the restructuring work, maintaining the value of the company's long-term equity investment and shareholder loans