Huawoo Group: Subsidiary's substantive merger bankruptcy liquidation restructuring plan approved by creditors' meeting.

Huawo Group announced that its controlling subsidiary Changsha Tianying has been petitioned for bankruptcy liquidation by creditors due to unpaid debts. The Wangcheng District Court has ruled to accept the case. Later, the court accepted the substantive merger bankruptcy liquidation application of Changsha Tianying and its controlling subsidiary, Guizhou Huawo. On May 29, 2026, the first creditors' meeting was held and voted on related matters. The "Report on the Method of Holding Creditors' Meetings and Voting" "Reward for Clues on Property and Paid Collection Work" and "Draft Reorganization Plan" were all approved, with the investor group in the "Reorganization Plan" passing a second vote. The reorganization plan still requires court approval, and the impact on company profits is currently unpredictable.