ST Gaga announced that the bankruptcy and restructuring case of Hunan Excellent Investment Co., Ltd., the company's former controlling shareholder, should have submitted a draft restructuring plan before September 24, 2026. Since the recruitment of investors for the restructuring is still ongoing, the Ningxiang Municipal People's Court ruled to extend the submission period of the draft restructuring plan until December 24, 2026. Up to now, Excellent Investment holds 216 million shares of the company, accounting for 19.55% of the total share capital. It is the second largest shareholder of the company. 100% of its shares have been frozen and pending freezing, and 99.81% are in a pledge state. There is uncertainty about whether the excellent investment restructuring will be successful, and it has not yet had a significant impact on the company's daily production and operation.

ST Gaga announced that the bankruptcy and restructuring case of Hunan Excellent Investment Co., Ltd., the company's former controlling shareholder, should have submitted a draft restructuring plan before September 24, 2026. Since the recruitment of investors for the restructuring is still ongoing, the Ningxiang Municipal People's Court ruled to extend the submission period of the draft restructuring plan until December 24, 2026. Up to now, Excellent Investment holds 216 million shares of the company, accounting for 19.55% of the total share capital. It is the second largest shareholder of the company. 100% of its shares have been frozen and pending freezing, and 99.81% are in a pledge state. There is uncertainty about whether the excellent investment restructuring will be successful, and it has not yet had a significant impact on the company's daily production and operation.