ST Meigu Receives Shenzhen Stock Exchange Regulatory Letter for Delayed Disclosure of Subsidiary's Related-Party Debt Relief

Regulation
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The Shenzhen Stock Exchange issued a regulatory letter to ST Meigu, pointing out that the company failed to fulfill its information disclosure obligations in a timely manner after its subsidiary Aomei Industrial Investment signed a debt disposal contract with related party Cinda Asset Management Guangdong Branch. The contract involved a total debt of 399 million yuan. After the subsidiary paid 393 million yuan as agreed, it received a debt waiver of 5.4334 million yuan. The waived amount accounted for 3.93 percent of the absolute value of the company's audited net assets for 2024, constituting a related-party transaction. The company delayed external disclosure until April 24, 2026, while the contract was signed on March 17, 2026, resulting in a violation of information disclosure timeliness. In the first quarter of 2026, ST Meigu achieved revenue of 148 million yuan, with a net loss attributable to the parent company of 216 million yuan.

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广州奥美产业投资有限公司Private▼ Negative
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Aomei Industrial Investment, a subsidiary, is involved in the delayed disclosure, but the regulatory action is against the parent company.