largestmegamillionsjackpotever| Qihe Environmental Protection (00976.HK): Longxin Reorganization Company was approved by the court to extend the implementation period of the reorganization plan by three months

Gelonghui May 22 丨 Qihe Environmental Protection (00976largestmegamillionsjackpotever.HK) disclose the latest situation of the reorganization of controlling shareholders. On May 21, 2024largestmegamillionsjackpotever, the company received a notice from Yushang Investment Group Co., Ltd. that although the reorganization plan has made certain progress, due to objective reasons, it still needs a certain period of time to be completed. Based on this, Longxin Reorganization Company applied to the Fifth Intermediate People's Court of Chongqing City to extend the implementation period of the reorganization plan. On May 20, 2024, the Fifth Intermediate People's Court of Chongqing City issued a civil ruling approving the extension of the implementation period of the reorganization plan by three months (ie until August 21, 2024).

The notice also stated that Longxin Restructuring Company sent the "Notification Letter on Cancellation of the Qualification of Restructuring Investor" to China Co-winner (Shanghai) Equity Investment on May 21, 2024, because it failed to comply with the "Restructuring Investment Agreement" Agreed to fulfill the payment obligation. Since Longxin Restructuring Company believes that the reorganization plan is feasible, it will adhere to this principle and continue to negotiate and sign new reorganization investment agreements with Chongqing Development and other investors.

The Board of Directors wishes to emphasize that there are still uncertainties about the progress and results of the reorganization. If the reorganization is not successfully implemented, there is a risk that the controlling shareholder will be declared bankrupt. After considering that the company is not one of the companies reorganized by Longxin and is independent of the controlling shareholder in terms of business, personnel, assets and finance, the Board of Directors believes that the reorganization has no material adverse impact on the company's operations and financial condition. As of the date of this announcement, the Company's operations and management are stable and normal.