BROAD HOMES: Has submitted a bankruptcy reorganization application to the court

BROAD HOMES has submitted a bankruptcy reorganization application to the Changsha Intermediate People's Court due to the impact of macroeconomic conditions, real estate regulation, and the pandemic. The company is facing a debt and operational crisis, and although it has taken self-rescue measures, the results have been insignificant. According to relevant legal provisions, the company meets the conditions for reorganization and has reorganization value, planning to introduce strategic investors to resolve debt risks. This application is expected to have little impact on the company's current financial status and production operations, with the final impact depending on subsequent developments