ST Longyuan: Creditor Applies for Restructuring and Pre-restructuring, Still Uncertain

English summary

ST Longyuan announced it received a notice from Ningbo Intermediate Court that creditor Shanghai Zhenkun Building Materials Trading Co., Ltd. has applied for restructuring of the company on grounds of inability to pay due debts and lack of solvency but with restructuring value. The company has not yet received court documents on whether to accept the application, and uncertainties remain. If restructuring fails and bankruptcy is declared, the stock faces delisting risk.