Kane Corporation: Controlling shareholder ruled to accept substantive merger bankruptcy liquidation.

Kane Holdings announced that the company recently received notice from its controlling shareholder, Zhejiang Kairong Special Paper Co., Ltd., stating that the Beijing First Intermediate People's Court accepted its substantive merger bankruptcy liquidation application on April 10, 2026. This matter may have an impact on the company's controlling rights, and the specific impact will depend on the subsequent bankruptcy liquidation plan. The company and its controlling shareholder maintain mutual independence in terms of business, personnel, assets, organization, finance, etc., and the substantive merger bankruptcy liquidation application of the controlling shareholder will not affect the company's daily production and operation. As of now, the company's production and operation are normal.