ST Ningke: Subsidiary HLSH International Trade has been ruled for reorganization

*ST Ningke announced that its wholly-owned subsidiary Ningxia Xinhai Hengli International Trade Co., Ltd. received the Ning 02 Bankruptcy Application No. 2 "Civil Ruling" and Ning 02 Bankruptcy Application No. 3 "Decision" delivered by the Intermediate People's Court of Shizuishan City, Ningxia Hui Autonomous Region on October 21, 2025. The court ruled to accept the reorganization of Hengli Guomao and appointed a temporary administrator to act as the administrator of Hengli Guomao. Hengli Guomao has been ruled by the court to accept reorganization, and there is uncertainty regarding the success of the reorganization. If the court ultimately rules that the reorganization of Hengli Guomao is unsuccessful, there will be a risk of being declared bankrupt by the court. The company will urge Hengli Guomao to actively manage daily production and operations based on the current situation and cooperate with the administrator to carry out related work