Huawu Co., Ltd. announced that its holding subsidiary, Changsha Tianying, was filed for bankruptcy and liquidation by creditors due to failure to pay maturing debts, and the Wangcheng District Court has decided to accept it. On July 9, 2026, Changsha Tianying received a court ruling to reorganize Tianying in Changsha and Huawu in Guizhou from July 2, approve the restructuring plan and terminate the restructuring process. The restructuring investors will be determined through public auctions, and the rights and interests of the original investors will be reduced to zero. This matter has a risk of receivables recovery and equity investment losses on the company's finances. Provision for impairment has been made, and will not have a significant adverse impact on daily operations and cash flow, but there is a risk that failure in restructuring will be declared bankrupt and liquidated.

Huawu Co., Ltd. announced that its holding subsidiary, Changsha Tianying, was filed for bankruptcy and liquidation by creditors due to failure to pay maturing debts, and the Wangcheng District Court has decided to accept it. On July 9, 2026, Changsha Tianying received a court ruling to reorganize Tianying in Changsha and Huawu in Guizhou from July 2, approve the restructuring plan and terminate the restructuring process. The restructuring investors will be determined through public auctions, and the rights and interests of the original investors will be reduced to zero. This matter has a risk of receivables recovery and equity investment losses on the company's finances. Provision for impairment has been made, and will not have a significant adverse impact on daily operations and cash flow, but there is a risk that failure in restructuring will be declared bankrupt and liquidated.