*ST Gongzhi announced on April 17 that its wholly-owned subsidiary, Tianjin Fuzhen Industrial Equipment Co., Ltd., has recently obtained a "Civil Judgment" from the Qixia District People's Court in Nanjing City. According to the judgment, Nanjing Xinzhi Electric Vehicle Co., Ltd. has been declared bankrupt by the court, and Tianjin Fuzhen holds unsecured creditor rights amounting to RMB 100,596,594.92 against Xinzhi Automobile. These creditor rights originate from a dispute regarding a "Purchase Contract" signed between Tianjin Fuzhen and Xinzhi Automobile in 2018, for which Tianjin Fuzhen had previously filed a lawsuit with the court. As Xinzhi Automobile has become insolvent and entered bankruptcy liquidation, Tianjin Fuzhen withdrew its lawsuit in 2023 and will now assert its rights and interests through the bankruptcy proceedings. *ST Gongzhi emphasized that the progress of this lawsuit is not anticipated to affect the company's profits, and the final accounting treatment and the extent of impact will be determined based on the audit results confirmed by the accounting firm.