Suhua Hongye Co., Ltd. Announcement on the Progress of Litigation

MaticHoleFiller · 2026-03-21T02:35:24+00:00

Suohao Hongyе announced that the company has won the lawsuit against Ningbo Kerui Kerite and He Liang. However, the execution has been terminated because the defendant has no executable assets. The company will make a full provision for credit impairment of approximately 6.1 million yuan and expects it will not affect the company's operating performance in 2025. The company reminds investors to pay attention to risks.

MaticHoleFiller

2026-03-21 02:35:24

Abstract generation in progress

Stock Code: 600128
Stock Name: Suhao Hongye
Announcement No.: 临2026-009

Suhao Hongye Co., Ltd. Announcement on Litigation Progress

The company’s board of directors and all directors guarantee that this announcement contains no false records, misleading statements, or major omissions, and assume legal responsibility for its truthfulness, accuracy, and completeness.

Suhao Hongye Co., Ltd. (hereinafter referred to as “Suhao Hongye” or “the Company”) previously disclosed information regarding litigation with Ningbo Kairuite Trading Co., Ltd. (hereinafter “Kairuite”) and He Liang, including related developments. For details of the above litigation, please refer to the company’s disclosures on September 23, 2023; November 29, 2023; May 9, 2024; May 23, 2024; August 10, 2024; March 19, 2025; June 4, 2025; August 21, 2025; December 6, 2025; and February 12, 2026, published in the Shanghai Securities News, China Securities Journal, and the Shanghai Stock Exchange website.

The case was heard in first and second trials, and both courts ruled in favor of the company. Since the losing party did not voluntarily fulfill the relevant obligations, the company applied for compulsory enforcement at the People’s Court of Qinhuai District, Nanjing (hereinafter “Nanjing Qinhuai Court”). Recently, the company received the “Enforcement Ruling” issued by Nanjing Qinhuai Court. The relevant details are as follows:

Basic situation of this enforcement

Applicant: Suhao Hongye Co., Ltd.
Address: No. 50 Zhonghua Road, Nanjing, Jiangsu Province
Legal representative: Ma Hongwei

Respondent: Ningbo Kairuite Trading Co., Ltd.
Respondent: He Liang
Address: Room 1701, Building 2, No. 288 Meishan Avenue, Beilun District, Ningbo, Zhejiang Province
Legal representative: Chen Cheng

Enforcement situation

During the enforcement process, Nanjing Qinhuai Court conducted a comprehensive property investigation and found no assets available for enforcement. Therefore, the court legally terminated this enforcement procedure. The company reserves the right to request the respondent to continue fulfilling the debt. If assets become available later, the company may apply to resume enforcement according to law.

Impact of this litigation on the company’s current or future profits

As of December 31, 2024, the company has provisioned a credit impairment loss of 16.13 million yuan for related claims. Based on the enforcement situation and adhering to the prudence principle, the company plans to fully provision for the credit impairment loss of this claim, which is expected to reduce the company’s net profit for 2025 by approximately 6.1 million yuan, with the final amount subject to audited data by an accounting firm. According to the company’s financial department calculations, this provision will not cause a year-on-year decline in the company’s operating performance for 2025. Investors are advised to be aware of investment risks.

This announcement is hereby made.

Suhao Hongye Co., Ltd.
Board of Directors
March 19, 2026

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