ST Qibu recently received a civil judgment from the People's Court of Qingtian County in Zhejiang Province, and was ordered in the first-instance trial to assume joint liability for a debt of 23.08 million yuan owed by the plaintiff. The case stems from Qingtian Yaqi Shoes and Clothing Company being sued by creditors during bankruptcy liquidation, with ST Qibu being required to bear joint liability for Yaqi's debts. The plaintiff adjusted the claim amount during the lawsuit from 22.37 million yuan to 23.08 million yuan. The company stated that this judgment is a first-instance ruling and is still within the appeal period, so the final outcome remains uncertain. ST Qibu has posted losses for six consecutive years, with cumulative losses exceeding 1.9 billion yuan, and expects a net loss attributable to the parent company of 34 million to 50 million yuan in the first half of 2026. However, revenue has grown significantly to between 489 million and 732 million yuan due to the addition of an aluminum processing business.
Qibu Co LtdST Qibu loses first-instance trial and must assume joint liability for 23.08 million yuan debt.