CHIHO ENV (00976.HK): Restructuring of Controlling Shareholders Concluded; Shares Stay Suspended

NewTimeSpace News: On 29 September 2026, Chiho Environmental Group Limited (stock code: 00976) announced that its indirect controlling shareholders, Longxin Group Co., Ltd., Longxin Holdings Co., Ltd. and Yushang Investment Group Co., Ltd., together with ten other companies related to them (the Longxin Restructuring Companies), have been undergoing substantive consolidated restructuring under the supervision of the Fifth Intermediate People's Court of Chongqing.

The board was recently informed by the administrator that on 20 August 2026 the court issued a civil ruling terminating the substantive consolidated restructuring of the Longxin Restructuring Companies: the administrator reported that, as at 31 July 2026, all conditions for full implementation of the restructuring plan had been fulfilled, including distributions to creditors, implementation of debt settlement arrangements, establishment and implementation of the trusts, transfer of relevant assets under the trusts and completion of industrial and commercial registration changes by the restructuring entities; the court approved the administrator's request and ordered termination of the restructuring proceedings. As certain claims remain in escrow or custody, the administrator will continue to perform its supervisory duties. The civil ruling took effect on 20 August 2026.

Given that the Company is not one of the Longxin Restructuring Companies and is independent from its controlling shareholders in terms of business, personnel, assets and finance, the board considers that the conclusion of the restructuring has no material adverse impact on the Company's operations and financial position.

Trading in the Company's shares has been suspended on the Stock Exchange since 9:00 a.m. on 1 April 2025 and will remain suspended until further notice pending fulfilment of the resumption guidance; the Company will make further announcements under the Listing Rules as appropriate, and shareholders and potential investors are advised to exercise caution when dealing in the shares.

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