<p><em>皇冠锅炉公司开始自愿申请第 11 章程序以解决遗留义务，符合 Burnham Holdings 的投资组合优化和长期增长战略</em></p>
<p>, /PRNewswire/ -- Burnham Holdings, Inc. (OTC-Pink: BURCA) (&#34;BHI&#34;, &#34;公司&#34;, &#34;我们&#34;或&#34;我们的&#34;), 作为领先的锅炉、炉具及相关 HVAC 产品和配件制造商的母公司，今天宣布其全资子公司皇冠锅炉公司（&#34;Crown&#34;或&#34;皇冠锅炉&#34;）已于 2026 年 2 月 25 日自愿申请根据美国破产法第 11 章进行保护。</p>
<p>在之前宣布的运营结束完成后，在皇冠的商业生命周期的这一阶段，公司认为这是最大化皇冠债权人利益的最佳行动方案。</p>
<p>&#34;今天关于皇冠锅炉采取的行动是我们长期计划中优化 BHI 投资组合并专注于我们最高增长业务的稳妥一步，&#34; Burnham Holdings, Inc.的总裁兼首席执行官 Chris Drew 表示。&#34;在过去一年中，我们果断地结束了非核心业务并解决了遗留风险。通过法院监督的程序解决这些剩余义务，我们正在增强我们的财务灵活性，并将资源集中在核心锅炉和服务业务的高增长领域。&#34;</p>
<p>法院监督的第 11 章程序旨在促进皇冠锅炉剩余义务和负债的有序解决，因为在 2025 年 4 月 7 日的公告后，制造和商业活动已被结束。作为初步结束的一部分，公司确认了与皇冠相关的所有必要减值，并且 2025 年 12 月 31 日的财务报表不需要进一步调整；然而，由于其性质和时机，公司无法在此时估计申请的总财务影响。虽然自愿申请被视为当前贷款安排下的违约事件，但 BHI 已主动从其银行集团获得正式豁免，确保其其他活跃子公司的持续运营稳定和整体财务灵活性，同时组织精简其遗留风险。</p>
<p>此次重组与 BHI 更广泛的转型为一个更精简、更高效的组织相一致。公司仍专注于其高效锅炉产品的卓越中心及其不断扩展的商业服务平台，这些平台继续受到强劲的市场需求。</p>
<p>&#34;我们仍然专注于为我们的股东、客户和员工提供长期价值，&#34; Drew 补充道。&#34;通过解决这些遗留负债并专注于我们的核心锅炉和服务产品，我们正在巩固可持续增长的基础，并使公司能够利用不断变化的市场需求。&#34;</p>
<p>BHI 和皇冠锅炉在整个第 11 章程序中与法律和财务顾问合作。将根据适用的披露要求提供进一步的细节。</p>
<p><strong>关于 Burnham Holdings, Inc.</strong> Burnham Holdings, Inc. (BHI) 是多家国内锅炉、炉具及相关 HVAC 产品和配件制造商的母公司，服务于住宅、商业和工业应用。BHI 专注于通过投资组合优化、运营效率和不断扩展的高性能供热解决方案创造价值。公司在 OTC 交易所上市，股票代码为&#34;BURCA&#34;。欲了解更多信息，请访问 <strong>www.burnhamholdings.com</strong>。</p>
<p><strong>安全港声明</strong> 本新闻稿包含前瞻性声明，可能面临风险和不确定性，包括关于公司对皇冠锅炉第 11 章程序的预期和公司战略举措的声明。这些前瞻性声明基于当前计划和预期，实际结果可能因各种风险和不确定性而有重大差异。</p>
<p>来源：Burnham Holdings, Inc.</p>

<p>Burnham Holdings, Inc. 宣布其子公司 Crown Boiler Company 已启动自愿第 11 章破产程序，以解决遗留义务。这一举措是 Burnham 优化其投资组合并专注于高增长领域的战略的一部分。重组旨在促进 Crown 负债的有序解决，同时确保 Burnham 其他子公司的运营稳定。公司在整个过程中与法律和财务顾问合作，并致力于为其利益相关者提供长期价值</p>

<p><em>Crown Boiler Company commences voluntary Chapter 11 process to resolve legacy obligations, aligned with Burnham Holdings' portfolio optimization and long-term growth strategy</em></p>
<div class="lb-trans"><p><em>皇冠锅炉公司开始自愿申请第 11 章程序以解决遗留义务，符合 Burnham Holdings 的投资组合优化和长期增长战略</em></p>
</div><p>, /PRNewswire/ -- Burnham Holdings, Inc. (OTC-Pink: BURCA) (&#34;BHI&#34;, the &#34;Company&#34;, &#34;we&#34; or &#34;our&#34;), the parent company to leading manufacturers of boilers, furnaces and related HVAC products and accessories, today announced that Crown Boiler Co., LLC (&#34;Crown&#34; or &#34;Crown Boiler&#34;), a wholly-owned subsidiary, has commenced a voluntary filing for protection under Chapter 11 of the U.S. Bankruptcy Code on February 25, 2026.</p>
<div class="lb-trans"><p>, /PRNewswire/ -- Burnham Holdings, Inc. (OTC-Pink: BURCA) (&#34;BHI&#34;, &#34;公司&#34;, &#34;我们&#34;或&#34;我们的&#34;), 作为领先的锅炉、炉具及相关 HVAC 产品和配件制造商的母公司，今天宣布其全资子公司皇冠锅炉公司（&#34;Crown&#34;或&#34;皇冠锅炉&#34;）已于 2026 年 2 月 25 日自愿申请根据美国破产法第 11 章进行保护。</p>
</div><p>Following the completion of the operational wind-down previously announced, at this point in Crown's business lifecycle, the Company believes this is the best course of action to maximize value for the benefit of Crown's creditors.</p>
<div class="lb-trans"><p>在之前宣布的运营结束完成后，在皇冠的商业生命周期的这一阶段，公司认为这是最大化皇冠债权人利益的最佳行动方案。</p>
</div><p>&#34;The action taken today regarding Crown Boiler is a measured step in our long-term plan to optimize the BHI portfolio and focus on our highest-growth businesses,&#34; said Chris Drew, President and CEO of Burnham Holdings, Inc. &#34;Over the past year, we have moved decisively to wind down non-core operations and resolve legacy exposures. By addressing these remaining obligations through a court-supervised process, we are reinforcing our financial flexibility and concentrating our resources on high-growth segments of our core boiler and service businesses.&#34;</p>
<div class="lb-trans"><p>&#34;今天关于皇冠锅炉采取的行动是我们长期计划中优化 BHI 投资组合并专注于我们最高增长业务的稳妥一步，&#34; Burnham Holdings, Inc.的总裁兼首席执行官 Chris Drew 表示。&#34;在过去一年中，我们果断地结束了非核心业务并解决了遗留风险。通过法院监督的程序解决这些剩余义务，我们正在增强我们的财务灵活性，并将资源集中在核心锅炉和服务业务的高增长领域。&#34;</p>
</div><p>The court-supervised Chapter 11 process is designed to facilitate an orderly resolution of Crown Boiler's remaining obligations and liabilities, as manufacturing and business activities were previously wound down following the April 7, 2025 announcement. As part of the initial wind-down, the Company recognized all necessary impairments associated with Crown, and no further adjustments are required to the December 31, 2025 financial statements; however, the Company cannot estimate the total financial impact of the filing at the time due to its nature and timing. While the voluntary filing is considered an Event of Default under the current lending arrangements, BHI has proactively received a formal waiver from its banking group, ensuring continued operational stability and overall financial flexibility for its other active subsidiaries as the organization streamlines its legacy exposure.</p>
<div class="lb-trans"><p>法院监督的第 11 章程序旨在促进皇冠锅炉剩余义务和负债的有序解决，因为在 2025 年 4 月 7 日的公告后，制造和商业活动已被结束。作为初步结束的一部分，公司确认了与皇冠相关的所有必要减值，并且 2025 年 12 月 31 日的财务报表不需要进一步调整；然而，由于其性质和时机，公司无法在此时估计申请的总财务影响。虽然自愿申请被视为当前贷款安排下的违约事件，但 BHI 已主动从其银行集团获得正式豁免，确保其其他活跃子公司的持续运营稳定和整体财务灵活性，同时组织精简其遗留风险。</p>
</div><p>This restructuring aligns with BHI's broader transformation into a leaner, more efficient organization. The Company remains focused on its Center of Excellence for its high-efficiency boiler products and its expanding commercial service platforms, which continue to see strong market demand.</p>
<div class="lb-trans"><p>此次重组与 BHI 更广泛的转型为一个更精简、更高效的组织相一致。公司仍专注于其高效锅炉产品的卓越中心及其不断扩展的商业服务平台，这些平台继续受到强劲的市场需求。</p>
</div><p>&#34;We remain focused on delivering long-term value for our shareholders, customers, and employees,&#34; added Drew. &#34;By resolving these legacy liabilities and concentrating on our core boiler and service offerings, we are reinforcing our foundation for sustainable growth and positioning the company to capitalize on evolving market demand.&#34;</p>
<div class="lb-trans"><p>&#34;我们仍然专注于为我们的股东、客户和员工提供长期价值，&#34; Drew 补充道。&#34;通过解决这些遗留负债并专注于我们的核心锅炉和服务产品，我们正在巩固可持续增长的基础，并使公司能够利用不断变化的市场需求。&#34;</p>
</div><p>BHI and Crown Boiler are working with legal and financial advisors throughout the Chapter 11 process. Further details will be provided in accordance with applicable disclosure requirements.</p>
<div class="lb-trans"><p>BHI 和皇冠锅炉在整个第 11 章程序中与法律和财务顾问合作。将根据适用的披露要求提供进一步的细节。</p>
</div><p><strong>About Burnham Holdings, Inc.</strong> Burnham Holdings, Inc. (BHI) is the parent company of multiple domestic manufacturers of boilers, furnaces and related HVAC products and accessories for residential, commercial, and industrial applications. BHI is focused on creating value through portfolio optimization, operational efficiency and an expanding suite of high-performance heating solutions. The Company is listed on the OTC Exchange under the ticker symbol &#34;BURCA.&#34; For more information, please visit <strong>www.burnhamholdings.com</strong>.</p>
<div class="lb-trans"><p><strong>关于 Burnham Holdings, Inc.</strong> Burnham Holdings, Inc. (BHI) 是多家国内锅炉、炉具及相关 HVAC 产品和配件制造商的母公司，服务于住宅、商业和工业应用。BHI 专注于通过投资组合优化、运营效率和不断扩展的高性能供热解决方案创造价值。公司在 OTC 交易所上市，股票代码为&#34;BURCA&#34;。欲了解更多信息，请访问 <strong>www.burnhamholdings.com</strong>。</p>
</div><p><strong>Safe Harbor Statement</strong> This press release contains forward-looking statements that are subject to risks and uncertainties, including statements regarding the Company's expectations for Crown Boiler's Chapter 11 process and the Company's strategic initiatives. These forward-looking statements are based on current plans and expectations, and actual results may differ materially due to a variety of risks and uncertainties.</p>
<div class="lb-trans"><p><strong>安全港声明</strong> 本新闻稿包含前瞻性声明，可能面临风险和不确定性，包括关于公司对皇冠锅炉第 11 章程序的预期和公司战略举措的声明。这些前瞻性声明基于当前计划和预期，实际结果可能因各种风险和不确定性而有重大差异。</p>
</div><p>SOURCE Burnham Holdings, Inc.</p>
<div class="lb-trans"><p>来源：Burnham Holdings, Inc.</p>
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伯纳姆控股宣布其子公司皇冠锅炉公司将进行法院监督的重组 | BURCA 股票新闻