Core Viewpoint - ST炼石 has selected multiple restructuring investors after evaluating investment proposals, indicating a strategic move towards financial recovery and asset optimization [1] Group 1: Restructuring Process - The temporary administrator organized the selection and evaluation of restructuring investors on September 2, 2025 [1] - The restructuring investor selection committee identified several qualified investors, including state-owned enterprises and investment funds [1] Group 2: Selected Investors - The selected restructuring investors include: - State-owned Asset Optimization Fund (Beijing) [1] - Guizhou Hangfa Qiansheng Investment and Guangfa Qianhe Consortium [1] - Guangxi Jinkong Asset Management Co., Ltd. [1] - Shenzhen Asset Management Co., Ltd. [1] - Huayi Asset - Jinyang Restructuring Consortium [1] - China Great Wall Asset Management Co., Ltd. [1] Group 3: Investment Terms - The agreed subscription price with a 24-month lock-up period is 5.65 yuan per share [1] - The agreed subscription price with a 12-month lock-up period is 6.73 yuan per share [1] - A pre-restructuring investment agreement was signed on September 10, 2025, between the company, the temporary administrator, and the selected investors or their designated entities [1]

Core Viewpoint - ST炼石 has selected multiple restructuring investors, indicating a strategic move towards financial recovery and asset optimization [1] Group 1: Restructuring Investors - The selected restructuring investors include state-owned enterprises and various investment funds, highlighting a diverse investment base [1] - The joint venture members consist of several entities, including 贵州国发航空发动机产业发展股权投资合伙企业 and 广发乾和投资有限公司, which may enhance operational synergies [1] - The restructuring process is formalized through a pre-restructuring investment agreement set to be signed by September 10, 2025 [1] Group 2: Investment Terms - The committed subscription price with a 24-month lock-up period is set at 5.65 yuan per share, while the 12-month lock-up price is 6.73 yuan per share, indicating investor confidence in the company's future [1] - The lock-up periods suggest a strategic approach to stabilize the company's stock price during the restructuring phase [1]

Group 1 - The company ST炼石 (000697.SZ) has identified five restructuring investors, including state-owned enterprises and investment funds [1] - The selected restructuring investors have signed a "Pre-restructuring Investment Agreement" with the company and the temporary management [1] - The subscription price with a 24-month lock-up period is set at 5.65 CNY per share, while the price with a 12-month lock-up period is 6.73 CNY per share [1]

关于签署《预重整投资协议》的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或者重大遗漏。 一、预重整基本情况 炼石航空科技股份有限公司(以下简称"公司")分别于 2025 年 1 月 3 日、2025 年 1 月 21 日召开第十一届董事会第十三次会议和 2025 年第一次临时股东大会， 审议通过了《关于拟向法院申请重整及预重整的议案》，同意公司向有管辖权的 法院申请重整及预重整。具体内容详见公司于 2025 年 1 月 4 日、1 月 22 日在《中 国证券报》《证券时报》《上海证券报》《证券日报》和巨潮资讯网 (www.cninfo.com.cn)刊载的相关公告。 2025 年 5 月 9 日公司向四川省成都市中级人民法院（以下简称"成都中院" 或"法院"）提交了重整及预重整申请资料，立案案号为（2025）川 01 破申 19 号。 具体内容详见公司于 2025 年 5 月 10 日在《中国证券报》《证券时报》《上海证 券报》《证券日报》和巨潮资讯网(www.cninfo.com.cn)刊载的相关公告。 2025 年 6 月 6 日，公司收到成都中院送达的《决定 ...

Group 1 - The company has initiated a pre-restructuring process and has applied to the Chengdu Intermediate People's Court for restructuring and pre-restructuring [2][3] - The court has decided to extend the pre-restructuring period by one month until October 6, 2025, due to the approaching deadline [5] Group 2 - The company has received a total of 58 interested investors who passed the qualification review and paid the registration deposit for the restructuring investment [3][4]

Group 1 - The company has initiated a pre-restructuring process by applying to the court for restructuring and pre-restructuring, which was approved by the board and shareholders [1][2] - The court has accepted the application for pre-restructuring, with the case number (2025)川01破申19号 [1] - A temporary administrator from Beijing King & Wood Mallesons (Chengdu) Law Firm has been appointed to manage the company during the pre-restructuring period [2] Group 2 - The company has issued a notice for creditor registration and is actively recruiting potential restructuring investors [2] - A total of 58 interested investors have passed the qualification review and paid the registration deposit [2] - The pre-restructuring period has been extended by one month until October 6, 2025, due to the approaching deadline [2]

证券代码：000697 证券简称：ST 炼石 公告编号：2025-041 炼石航空科技股份有限公司 关于预重整延期的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或者重大遗漏。 一、预重整基本情况 炼石航空科技股份有限公司(以下简称"公司")分别于 2025 年 1 月 3 日、2025 年 1 月 21 日召开第十一届董事会第十三次会议和 2025 年第一次临时股东大会， 审议通过了《关于拟向法院申请重整及预重整的议案》，同意公司向有管辖权的 法院申请重整及预重整。具体内容详见公司于 2025 年 1 月 4 日、1 月 22 日在《中 国证券报》《证券时报》《上海证券报》《证券日报》和巨潮资讯网 (www.cninfo.com.cn)刊载的相关公告。 2025 年 5 月 9 日公司向四川省成都市中级人民法院（以下简称"成都中院" 或"法院"）提交了重整及预重整申请资料，立案案号为（2025）川 01 破申 19 号。 具体内容详见公司于 2025 年 5 月 10 日在《中国证券报》《证券时报》《上海证 券报》《证券日报》和巨潮资讯网(www.cninfo.c ...

Group 1 - The core viewpoint is that Chengdu Gardner currently lacks the capability to manufacture large structural components for aircraft and is considering future investments in alternative equipment based on market conditions [1] Group 2 - The company received a refund from Modig, which raises questions about its current manufacturing capabilities [1] - The company expresses gratitude for investor interest in its aviation segment [1]

Core Viewpoint - ST Lian Shi, once a star in civil aviation equipment manufacturing, is now facing pre-restructuring due to debt issues, with a significant number of potential investors showing interest in its restructuring process [1][4]. Group 1: Restructuring Process - After over two months of recruiting investors, ST Lian Shi announced the selection of restructuring investors on September 3, 2025, attracting 58 interested parties [1][2]. - The selected investors include various state-owned enterprises and local asset management companies, with a subscription price of 5.65 CNY per share for a 24-month lock-up period and 6.73 CNY per share for a 12-month lock-up period [2][4]. - The current stock price of ST Lian Shi is 8.82 CNY per share, indicating a discount rate of 35.94% for the 24-month lock-up price and 23.70% for the 12-month lock-up price [2]. Group 2: Company Background and Financials - ST Lian Shi, established in 1993 and located in Chengdu, Sichuan, specializes in high-tech aviation precision components and has a strong industrial foundation [4]. - The company has been experiencing continuous losses since 2019, although its operating revenue has shown year-on-year growth since 2022 [4][5]. - As of the 2025 semi-annual report, ST Lian Shi reported goodwill of 2.468 billion CNY, with 1.911 billion CNY already provisioned for impairment [5]. Group 3: Investor Composition and Future Steps - The selected restructuring investors include major state-owned asset management firms, indicating a strong interest from entities with relevant industry experience [3][5]. - The next step after confirming the restructuring investors is to sign the restructuring investment agreement, with ongoing negotiations expected regarding potential changes in the controlling shareholder [5].

Group 1 - The company has initiated a pre-restructuring process and applied to the court for restructuring and pre-restructuring [1][2] - The court has accepted the application for pre-restructuring, with the case number (2025)川01破申19号 [1][2] - A temporary manager from Beijing King & Wood Mallesons (Chengdu) Law Firm has been appointed to oversee the pre-restructuring period [2] Group 2 - The company has publicly recruited restructuring investors, with 58 potential investors passing the qualification review [2] - Selected restructuring investors include state-owned enterprises and investment funds, with a subscription price of 5.65 yuan/share for a 24-month lock-up period and 6.73 yuan/share for a 12-month lock-up period [2] - The temporary manager will facilitate the signing of restructuring investment agreements with the selected investors [3] Group 3 - The pre-restructuring process aims to streamline the company's debt and asset management to enhance the feasibility of future restructuring efforts [3] - The court's agreement to the pre-restructuring does not guarantee the acceptance of the formal restructuring application [3][4] - If the court accepts the restructuring application, the company's stock may face delisting risk according to Shenzhen Stock Exchange regulations [4]