Bangjie Corporation: Settlement reached in solar project lawsuit, required to return subsidy of 140 million yuan.

Bangjie Corporation announced that the Yangzhou Economic and Technological Development Zone Management Committee has sued the company and Yangzhou Bangjie for not resuming production according to the plan, demanding the company and Yangzhou Bangjie to jointly refund the principal of 140 million yuan and interest of the equipment subsidy already paid. Recently, the company and Yangzhou Bangjie received a "Civil Mediation Agreement", and all parties unanimously confirmed that the 140 million yuan subsidy would be declared bankrupt by the Development Zone Management Committee in accordance with the bankruptcy procedure, and the company, as a joint liability party, should refund it by September 30, 2026. In addition, the handling fee of 387,600 yuan will be borne by both parties, and the company must also pay it before September 30.