Shenzhen Ruihe Construction Decoration (002620.SZ) received a commitment letter from restructuring industry investor Penang Electronics.
*ST Ruihe (002620.SZ) announced that on May 13, 2026, the Company and the pre-restructuring administrator separately signed the Restructuring Investment Agreement with the restructuring industry investor and the restructuring financial investors. Today, the Company received a Commitment Letter issued by the restructuring industry investor Shenzhen Penang Electronics Co., Ltd. ("Penang Electronics") to the Company and the pre-restructuring administrator.
Shenzhen Ruihe Construction Decoration (002620.SZ) announced that on May 13, 2026, the company and the pre-restructuring administrator respectively signed the "Restructuring Investment Agreement" with the restructuring industry investor and the restructuring financial investor. Today, the company received a "Commitment Letter" issued by the restructuring industry investor, Shenzhen Penang Electronics Co., Ltd. (referred to as "Penang Electronics"), to the company and the pre-restructuring administrator.
Full text of the "Commitment Letter": "To Shenzhen Ruihe Construction Decoration Co., Ltd. and the Pre-restructuring Administrator of Shenzhen Ruihe Construction Decoration Co., Ltd.: Whereas on May 13, 2026, Shenzhen Penang Electronics Co., Ltd. (hereinafter referred to as 'the Company') signed the 'Restructuring Investment Agreement of Shenzhen Ruihe Construction Decoration Co., Ltd.' with Shenzhen Ruihe Construction Decoration Co., Ltd. (hereinafter referred to as 'Ruihe Co., Ltd.' or 'the Listed Company') and the Pre-restructuring Administrator of Shenzhen Ruihe Construction Decoration Co., Ltd., [the Company] 'undertakes that, within 36 months from the date on which the shares converted from the capital increase of Ruihe Co., Ltd. are transferred to its securities account, it will not transfer or entrust others to manage the shares it directly and indirectly holds that are subject to this subscription.'
Based on its confidence in the long-term development of Ruihe Co., Ltd., the Company further undertakes that, within 60 months from the date on which the shares converted from the capital increase of Ruihe Co., Ltd. are transferred to the Company's securities account, it will not transfer or entrust others to manage the shares it directly and indirectly holds that are subject to this subscription. In addition, with respect to the funding arrangement for this restructuring investment, the Company undertakes that the proportion of its own funds participating in this restructuring investment will be no less than 50%."
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