Shenzhen Changfang Light Emitting

Shenzhen Changfang Group Co., Ltd., stock abbreviation ST Changfang, announced on September 4, 2026 that due to tight liquidity, it recently added overdue debts totaling 44 million yuan involving two creditors: 24 million yuan to Jiangxi Xinzhuo Technology Co., Ltd. and 20 million yuan to Jiangxi Chenghong Technology Co., Ltd., both due on September 3, 2026. As of the announcement date, the company's cumulative overdue debt reached 387 million yuan, accounting for 422.72% of its audited net assets for 2025. The company said the overdue debts may incur penalty interest and other charges, and if not properly resolved, it may face litigation, arbitration and other risks, and reminded investors to pay attention to related risks.

ST Changfang released its 2026 interim report, showing total operating revenue of 220 million yuan and a net loss attributable to the parent company of 43.23 million yuan. Net cash outflow from operating activities was 42.13 million yuan, a decrease of 20.2 million yuan compared with the same period last year. The company's asset-liability ratio reached 93.56 percent, up 2.53 percentage points from the previous quarter and up 14.93 percentage points from a year earlier. Gross margin was 23 percent, return on equity was negative 84.46 percent, and diluted earnings per share was negative 0.05 yuan. The number of shareholders stood at 16,400, and the top ten shareholders held 29.77 percent of total share capital.

Shenzhen Changfang Group Co., Ltd. announced that due to tight liquidity, it recently added two overdue debts totaling 35 million yuan. Among them, a 15 million yuan debt to Jiangxi Xinzhuo Technology Co., Ltd. matured on July 12, 2026, and a 20 million yuan debt to Jiangxi Hongzhen Technology Co., Ltd. matured on July 15, 2026. As of the announcement date, the company's total overdue debt amounted to 321.5 million yuan, accounting for 351.63% of its audited net assets for 2025. The company stated it may bear costs such as liquidated damages and penalty interest. If not properly resolved, it may face risks including litigation and arbitration. It is communicating with creditors to seek extensions, while intensifying efforts to collect accounts receivable and resolving the debt crisis through out-of-court restructuring.