Tianhai Electronics: Wholly-owned subsidiary received bankruptcy creditor's distribution of 4.6978 million yuan.

Tianhai Electronics announced that its wholly-owned subsidiary, Tianhai Global, sued GAC Fiat for a dispute in a sales contract. On November 11, 2025, the court ruled to confirm Tianhai Global's ordinary creditor's amount of 93.9557 million yuan. On June 18, 2026, the administrator of GAC Fiat announced a 5% settlement ratio for the ordinary creditor's claim, and after the completion of subsequent rounds of distribution, the total distribution ratio of the ordinary creditor's claim is approximately 8%. On July 16, Tianhai Global received a bankruptcy estate distribution of 4.6978 million yuan. By the end of 2025, the full amount of the accounts receivable had been fully provisioned for bad debts, and the impact of this collection on profits will be subject to subsequent legal proceedings and audit findings.