On December 23, ST Zhongli announced that on August 21, the company signed the Agreement on Restructuring Investment (Intention) with Shenzhen Yangzi Chengxin Investment Co., Ltd. (Hereinafter referred to as "Yangzi Chengxin") and the temporary administrator of the company. However, after the signing of the agreement, Yangzi Chengxin, the original lead financial investor, failed to reach an agreement on the core work after many consultations with the company and the temporary administrator. In order to smoothly promote the pre-reorganization and subsequent reorganization of the company, after careful study and friendly consultation with all parties, the company decided not to enter into a formal reorganization investment agreement with Yangzi Chengxin. At present, the company and the temporary manager have directly consulted with other intended financial investors and actively cooperated with them.
ST Zhongli was applied for reorganization and pre-reorganization by the creditor Jiangsu Xinyi Decoration Engineering Co., Ltd. to the Suzhou Intermediate People's Court on January 18, 2023; in March, ST Zhongli disclosed the Announcement on Public Recruitment and Selection of Reorganization Investors; On August 21, ST Zhongli and temporary managers signed the Restructuring Investment (Intention) Agreement with Changshu Guangsheng, an industrial investor, and Yangzi Chengxin, a leading financial investor, respectively.
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