The company and its subsidiaries’ reorganization plan has been approved by the court ruling.

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The company and its subsidiaries’ reorganization plan has been approved by the court ruling.

According to a report by Cai Lian She on November 13, *ST NINGKE (600165.SH) announced that the restructuring plan for the company and its subsidiaries, Ningxia Zhongke New Materials Co., Ltd. and Ningxia Xinri Hengli International Trading Co., Ltd., was approved by the court on November 13, 2025, and the restructuring proceedings have now been terminated. The implementation period of the restructuring plan runs until December 31, 2025; if completion on time is not possible, an extension may be requested. The restructuring plan involves adjustments to equity interests, which will lead to changes in the company’s shareholding structure and result in a change of controlling shareholder and actual controller. If the restructuring plan is not implemented or fails to be implemented, the company could be declared bankrupt by the court, facing the risk of delisting.

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