JTL: The court has decided to initiate pre-restructuring for the company and appointed a temporary administrator

According to the announcement from JTL (300091.SZ), on April 3, 2025, the company received a "Decision Document" (2025) Su 06 Po Shen 22 and (2025) Su 06 Po Shen 22-1 from the Intermediate People's Court of Nantong City, Jiangsu Province (referred to as "Nantong Intermediate Court" or "Court"), informing that the Nantong Intermediate Court has decided to initiate a pre-restructuring for the company and has appointed the liquidation team of JTL Technology Group Co., Ltd. as the temporary administrator during the pre-restructuring period (referred to as "Temporary Administrator").

The Nantong Intermediate Court's agreement to accept the company's pre-restructuring does not represent the court's formal acceptance of the applicant's restructuring application for the company. The pre-restructuring process is aimed at identifying the company's restructuring value and the possibility of restructuring, thereby improving the efficiency of subsequent restructuring efforts. As of the date of this announcement, the company has not yet received any relevant legal documents from the court regarding the acceptance of the restructuring application, and there remains uncertainty regarding whether the court will accept the applicant's restructuring application and whether the company will subsequently enter the restructuring process