浙江棒杰控股集团股份有限公司 关于法院裁定受理申请人对子公司预重整申请的公告

Core Viewpoint - The company and its subsidiary, Yangzhou Bangjie New Energy Technology Co., Ltd., are undergoing a pre-restructuring process due to financial difficulties, with the court accepting the application for pre-restructuring based on the inability to repay debts and the potential for restructuring value [2][8][11]. Group 1: Company Financial Situation - Yangzhou Bangjie has a financial liability exposure of approximately 630 million yuan, all guaranteed by the company, which poses a risk of fulfilling all guarantee obligations if restructuring occurs [12]. - The company has invested a total of 505 million yuan in Yangzhou Bangjie, which is fully paid, and there is a risk of not recovering this investment if restructuring proceeds [13]. - The company has provided financial support of about 650 million yuan to Yangzhou Bangjie, making it a significant creditor, and there is a risk of not recovering these receivables if restructuring occurs [14]. Group 2: Business Operations and Revenue - The company's main businesses are seamless clothing and photovoltaic sectors, with seamless clothing generating 620 million yuan in revenue for 2024, accounting for 56.06% of total revenue, while photovoltaic business generated 452 million yuan, accounting for 40.86% [17]. - In the first half of 2025, the seamless clothing business achieved revenue of 282 million yuan, representing 96.67% of total revenue, indicating a shift in revenue reliance due to underperformance in the photovoltaic sector [17]. - The company aims to stabilize its seamless clothing business while addressing risks in the photovoltaic sector, which may impact overall operations if liquidity issues escalate [17]. Group 3: Legal and Regulatory Context - The court has accepted the pre-restructuring application for Yangzhou Bangjie, which does not guarantee formal restructuring, and there is uncertainty regarding the ability to reach an agreement with creditors to avoid bankruptcy [2][11]. - The company is actively cooperating with the court and stakeholders to explore solutions for debt issues while maintaining the value of long-term investments and shareholder loans [11][12].