ST Meike's Controlling Shareholder Signs Restructuring Investment Agreement, Control May Change

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ST Meike announced that its controlling shareholder, Meike Group, has signed a Restructuring Investment Agreement with Shenzhen Xiaoci Investment Co., Ltd. Xiaoci Investment will acquire 51% equity in Meike Group after the restructuring, and as an industrial investor, will directly subscribe to 368 million shares from the company's capital reserve increase, representing 12.72% of total share capital. If fully implemented, the company's controlling shareholder and actual controller will change, subject to the restructuring plan approved by the court. Currently, the 33.99% stake in the company held by Meike Group has been fully pledged and frozen, the restructuring still faces uncertainties, and the company's shares are at risk of delisting.

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