Changshu Fengfan Co., Ltd.: Debt restructuring of certain accounts receivable, with a total amount of USD 42.418203 million

Changshu Fengfan Co., Ltd. announced that the company plans to restructure part of its accounts receivable, with a total amount of USD 42.418203 million, equivalent to approximately RMB 307 million. The accounts receivable formed from the business with overseas customer Solar Long amounts to USD 105 million, with USD 62.2 million already collected, resulting in a collection rate of 59.45%. This restructuring will reduce accounts receivable by USD 29.668 million and reverse USD 1.4834 million in bad debt provisions, having a minimal impact on the annual performance. After the restructuring, the remaining accounts receivable will be USD 12.7502 million, and the company will actively recover this amount. This debt restructuring accounts for 10% of the company's net assets and does not require a shareholders' meeting for approval