Progress in Arbitration of Financial Loan Contract Dispute Involving ST Sanmu

ST Sanmu announced that the company and its holding subsidiary, Fuzhou Light Industry, have received an arbitration notice from the Xiamen Arbitration Commission. Guangfa Bank Fuzhou Branch has initiated arbitration against Fuzhou Light Industry, the company, and natural person shareholders Chen Jian and Liao Xinghua due to a financial loan contract dispute. The case has been accepted but has not yet gone to trial. Fuzhou Light Industry has overdue export payment business of 15 million yuan, and as of October 25, 2026, it still owes a principal of 4.9427 million yuan and penalty interest of 141,500 yuan, totaling 5.0842 million yuan. The company bears joint liability for this debt within a maximum principal amount of 20 million yuan, which accounts for 4.21% of the company's most recent audited net assets. As of November 12, 2026, the total balance of external guarantees provided by the company and its holding subsidiaries is 4.313 billion yuan, accounting for 3574.86% of the most recent audited net assets; among them, the overdue guarantee amount is 1.079 billion yuan, accounting for 894.11% of the net assets.

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