*ST Meagu 155 Million Yuan Financial Loan Contract Dispute Case Remanded for Retrial

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*ST Meigu (Stock Code: 000615) announced on March 19 that the company received a Civil Ruling from the Hebei Provincial Higher People’s Court, which overturned a previous case involving a financial loan dispute of approximately 155 million yuan and remanded it for retrial.

The announcement shows that the case originated from a financial loan dispute between China Cinda Asset Management Co., Ltd. Guangdong Branch (hereinafter referred to as “Cinda Asset”) and Jinghan (Langfang) Real Estate Development Co., Ltd. (hereinafter referred to as “Jinghan Langfang”). Cinda Asset filed a lawsuit in June 2023, demanding Jinghan Langfang repay the principal of 126 million yuan plus interest, penalty interest, and breach of contract damages totaling about 155 million yuan, and requiring *ST Meigu, Tian Han, Li Li, and other individuals and entities to assume joint guarantee responsibility for the debt.

In October 2024, the Intermediate People’s Court of Shijiazhuang, Hebei Province, issued a first-instance judgment, ordering Jinghan Langfang to repay the relevant amounts and holding *ST Meigu jointly responsible for guarantee within the principal of 126 million yuan.

This case took a major turn when the Hebei Provincial Higher People’s Court, during the appeal process, found that *ST Meigu had entered bankruptcy reorganization in November 2025, and in December of the same year, approved the reorganization plan and terminated the reorganization process, with the plan fully executed. Cinda Asset had filed claims, including the secured debt involved in this case, during the bankruptcy reorganization. The court believes that the implementation of the reorganization plan directly affects the guarantor’s guarantee obligations, and the basic facts of the case need further clarification. Therefore, it revoked the original first-instance judgment and remanded the case to the Intermediate People’s Court of Shijiazhuang for retrial.

*ST Meigu stated that the company will conduct financial treatment in accordance with relevant provisions of the Enterprise Accounting Standards, the actual situation of the litigation, and the implementation of the reorganization plan. The impact of this lawsuit on the company’s current performance will be subject to the annual audit results of the accounting firm. Since the case has been remanded for retrial and no new court session has been held, the outcome remains uncertain. The company will continue to monitor the follow-up developments and fulfill its information disclosure obligations in a timely manner.

As of the date of this announcement, aside from this case and those already disclosed, the company and its subsidiaries have no other major lawsuits or arbitration matters that need to be disclosed but have not been disclosed.

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Editor: Xiao Lang Kuai Bao