Chongqing Electromechanical (02722): Empowerment Center submits bankruptcy and liquidation application

Zhitong Finance App News, Chongqing Electromechanical (02722) issued an announcement. The company received a written notice from Chongqing Industrial Empowerment Innovation Center Co., Ltd. (a subsidiary directly wholly owned by the company on the date of this announcement) on August 28, 2026. The Empowerment Center has submitted a bankruptcy and liquidation application against itself to the Chongqing Fifth Intermediate People's Court. The reason for the application was that the Empowerment Center failed to repay its debts as they matured to its creditors and that its assets were insufficient to pay its liabilities.

As of the date of this announcement, the Company has not received any court ruling on the application, and there is still uncertainty as to whether the court will accept the application.

If the Enablement Center enters bankruptcy proceedings, it will be taken over by a manager appointed by the court and will no longer be included in the scope of the company's consolidated statements. As of the date of this announcement, based on the above information and as far as the company knows, the company believes that the overall operation of the company has remained normal in major aspects. The bankruptcy of the Empowerment Center is expected to have little impact on the company's consolidated profits or post-period profits. In the end, the actual impact is based on the bankruptcy execution results and the accountant's audit. The company will exercise shareholders' rights in accordance with law, cooperate with the courts and managers, and protect the interests of the company and all shareholders to the greatest extent possible.