Announcement by Enlightenment Environment Technology Development Co., Ltd. on the Progress of Company Pre-Reorganization Matters and Receipt of Pre-Reorganization Extension Decision

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2026-03-24 23:36:20

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Stock Code: 000826 Stock Abbreviation: Qidi Environment Announcement No.: 2026-014

Qidi Environment Technology Development Co., Ltd.

Announcement on the Progress of the Company’s Pre-Reorganization and Receipt of the Extension Decision for the Pre-Reorganization

The company and all members of the board of directors guarantee that the content of this announcement is true, accurate, and complete, with no false records, misleading statements, or major omissions.

Qidi Environment Technology Development Co., Ltd. (hereinafter referred to as “the Company” or “Qidi Environment”) hereby announces the progress of the company’s pre-reorganization in accordance with the “Shenzhen Stock Exchange Listing Rules (2025 Revision)” and “Shenzhen Stock Exchange Listed Company Self-Regulatory Guidelines No. 14 - Bankruptcy Reorganization and Other Matters (2025 Revision)” and other relevant regulations:

Basic Information on the Pre-Reorganization
On September 23, 2025, Qidi Environment received the Yichang Intermediate People’s Court (hereinafter “Yichang Court” or “the Court”) issued Notification No. (2025) E 05 Po Shen 37, in which creditor Ningbo Zhaotai Energy Equipment Co., Ltd. (hereinafter “Ningbo Zhaotai” or “the Applicant”) claimed that the company was unable to settle its due debts and clearly lacked the ability to pay, but had restructuring value, and applied to the Yichang Court for reorganization and initiated pre-reorganization procedures. On the same day, the company received a notice delivered by the applicant. Details are disclosed in the company’s “Prompt Announcement on the Creditor’s Application for Reorganization and Pre-Reorganization” (2025-059) published on CNINFO on September 24, 2025.
On September 24, 2025, the Yichang Court lawfully issued Decision No. (2025) E 05 Po Shen 37, deciding to initiate pre-reorganization for Qidi Environment and appointing the company’s liquidation team as the temporary administrator during the pre-reorganization period (hereinafter “Temporary Administrator”). Details are disclosed in the company’s “Announcement on Court Decision to Initiate Pre-Reorganization and Appoint Temporary Administrator” (2025-061) published on CNINFO on September 25, 2025.
To smoothly advance the company’s pre-reorganization and subsequent restructuring, and to safely and orderly resolve the company’s debt risks, restore and enhance the company’s sustainable operation and profitability, achieve resource integration, and protect creditors’ fair rights and interests, the Temporary Administrator, in accordance with relevant laws and regulations, combined with the company’s actual situation and work arrangements, publicly recruits restructuring investors. Details are disclosed in the company’s “Announcement on Public Recruitment of Restructuring Investors” (2025-062) published on CNINFO on September 27, 2025.
On September 26, 2025, the Temporary Administrator issued a notice for debt claims during the pre-reorganization period. Details are disclosed in the company’s “Announcement on Debt Claims During the Pre-Reorganization Period” (2025-063) published on CNINFO on September 27, 2025.
On October 31, 2025, the company disclosed the progress of the pre-reorganization. Details are disclosed in the company’s “Announcement on Recruitment of Restructuring Investors and Progress of Pre-Reorganization” (2025-070) published on CNINFO on October 31, 2025.
On December 23, 2025, the company received Decision No. (2025) E 05 Po Shen 37-1 from the Yichang Court, extending the pre-reorganization period by three months. Details are disclosed in the company’s “Announcement on Progress of Pre-Reorganization and Receipt of Extension Decision” (2025-092) published on CNINFO on December 24, 2025.

As of the date of this announcement, the company is actively cooperating with the Temporary Administrator to promote various pre-reorganization tasks, including creditor declaration and review, auditing and valuation, and recruitment of restructuring investors, which are proceeding in an orderly manner.

Progress of This Time

On March 23, 2026, the company received Decision No. (2025) E 05 Po Shen 37-2 from the Yichang Court, with the main content as follows:

“Qidi Environment Technology Development Co., Ltd.'s application for the Temporary Administrator’s extension of the pre-reorganization period complies with Article 11 of the ‘Guidelines for the High-Quality Development of Bankruptcy Case Pre-Reorganization Trials (Trial)’ issued by the Hubei Higher People’s Court. The court decides to extend the pre-reorganization period of Qidi Environment Technology Development Co., Ltd. by three months.”

Risk Reminder
The Yichang Court’s approval of the company’s pre-reorganization does not mean the court has officially accepted the applicant’s reorganization application. The pre-reorganization process aims to identify the company’s restructuring value and potential, and improve the efficiency of subsequent reorganization work. As of the date of this announcement, the company has not received any legal documents confirming the court’s acceptance of the reorganization application, and whether the company’s reorganization application will be accepted or whether the company will enter the reorganization process remains uncertain.
There are uncertainties regarding the results of recruiting potential investors and whether the company can sign a formal restructuring investment agreement with the selected investor. The company will closely monitor the progress and strictly fulfill its disclosure obligations in accordance with relevant laws, regulations, and rules.
If the court rules to accept the applicant’s reorganization application, according to the “Shenzhen Stock Exchange Listing Rules (2025 Revision),” the Shenzhen Stock Exchange will implement a delisting risk warning on the company’s stock trading. Investors should be aware of investment risks.
If the court rules to accept the reorganization application and the reorganization is successfully completed, it will help improve the company’s operational and financial conditions and promote sustainable development. However, even if the court accepts the reorganization application, there remains a risk of bankruptcy declaration and liquidation if the reorganization fails. If the company is declared bankrupt due to reorganization failure, its stock may be terminated from listing according to the “Shenzhen Stock Exchange Listing Rules (2025 Revision).”

Given the uncertainties above, the company will closely monitor the progress of relevant matters and disclose information in strict accordance with the “Shenzhen Stock Exchange Listing Rules (2025 Revision)” and “Shenzhen Stock Exchange Listed Company Self-Regulatory Guidelines No. 14 - Bankruptcy Reorganization and Other Matters (2025 Revision).”

The company’s designated information disclosure media are “China Securities Journal,” “Securities Times,” “Shanghai Securities News,” and CNINFO (www.cninfo.com.cn). All company information is published through these designated media. Investors are advised to be cautious of investment risks.

Reference Documents

(2025) E 05 Po Shen 37-2 “Decision.”

This announcement is hereby made.

Board of Directors of Qidi Environment Technology Development Co., Ltd.

March 24, 2026

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