The actual controller and chairman of Suda Holdings are placed under detention; the company's production and operations are normal.

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On the evening of March 16, Sudar Co., Ltd. (001277) announced that it received a notice from the family of its actual controller and chairman, Li Xiyuan. On March 13, 2026, the company received a “Notice of Filing” and a “Detention Notice” issued by the Bengbu City Bengshan District Supervisory Committee, indicating that Li Xiyuan has been detained.

Public information shows that Sudar Co., Ltd. is a professional service company focused on the entire lifecycle management of machinery equipment, dedicated to providing high-quality comprehensive aftermarket services for industrial clients. The company’s current business mainly revolves around hydraulic supports for coal mining equipment, offering maintenance and remanufacturing, spare parts supply management, second-hand equipment leasing and sales, and other comprehensive aftermarket services. It also supplies fluid connection products to machinery manufacturers.

Sudar Co., Ltd. has six large maintenance and remanufacturing bases, with two new maintenance centers in Shuozhou and Changzhi, Shanxi, continuously expanding its market coverage. The company has built a three-level warehousing and logistics system centered in Zhengzhou, radiating to multiple customer clusters. It has established seven customer service centers and ten service outlets, maintaining a leading position in the industry.

From 2022 to 2024, Sudar Co., Ltd. ranked first in market share for hydraulic support maintenance and remanufacturing for three consecutive years and is one of the largest domestic providers of fluid connection components for coal mining machinery. Currently, the company has a professional R&D team of over 60 members and a production technical team of more than 600. It is one of the few service companies that have obtained the remanufacturing support frame compression test report from Beijing Coal Science Research Institute. After repair and remanufacturing by Sudar, the performance of old fully-mechanized mining equipment is comparable to new equipment.

Regarding the detention of the actual controller and chairman, Sudar Co., Ltd. stated that the company has a sound governance structure and internal control mechanisms. It will operate in accordance with the “Company Law of the People’s Republic of China,” the “Shenzhen Stock Exchange Listing Rules,” the “Guidelines for Corporate Governance of Listed Companies,” the Articles of Association, and other laws, regulations, and relevant institutional norms.

As of the date of this announcement, other directors and senior management of the company are performing their duties normally. The company’s control rights have not changed, and its production and operation are normal. The above matters will not have a significant impact on the company’s daily operations. Currently, the company has not received any investigation or cooperation investigation documents from authorities, and the progress and conclusion of the detention investigation are unknown. The company will continue to monitor the progress of the matter and fulfill its information disclosure obligations in a timely manner according to relevant regulations.

The company will continue to follow up on the developments of the above matter and strictly comply with relevant laws and regulations to disclose information promptly.