MEILI CLOUD: Shareholders' shares face the risk of judicial disposal

MEILI CLOUD announced that the financial loan contract of its shareholder, China Metallurgical Group Corporation, is about to expire, and it is expected to be unable to repay the due debt. The shareholder, Beijing Xingchengwang Industrial Co., Ltd., as the guarantor, is also expected to be unable to fulfill its obligations. All shares held by Beijing Xingchengwang Industrial Co., Ltd. and China Metallurgical Group Corporation have been judicially frozen due to the aforementioned loan contract, and 50% of the shares held have been pledged. Currently, the company's production and operational activities are normal, and the above matters will not adversely affect the company's daily production and operations