ST Xifa announced that, On July 25, 2023, the Company received a “Decision” served by the Lhasa Intermediate People’s Court of the Tibet Autonomous Region. Upon application by creditors, the Lhasa Intermediate People’s Court decided to initiate preliminary reorganization proceedings against the Company and appointed Shanghai Jintiancheng Law Firm as the provisional administrator for the preliminary reorganization, with specific responsibility for carrying out all relevant tasks. The Company received the Lhasa Intermediate Court’s Decision on February 25, 2026. The main content is as follows: “This Court finds that the interim administrator’s request for an extension, citing the complexity of Tibet Development’s historical issues and the fact that some debts involve legacy problems, is justified. To effectively preserve the enterprise’s operational value, protect the legitimate rights and interests of creditors, and enhance the efficiency and effectiveness of the reorganization, it is decided to extend the preliminary reorganization of Tibet Development by one month, specifically from February 26, 2026, to March 25, 2026.”