上海三毛企业（集团）股份有限公司关于全资子公司破产清算事项的进展公告

Core Viewpoint - Shanghai Sanmao Enterprise (Group) Co., Ltd. has decided to terminate the absorption merger of its wholly-owned subsidiary, Shanghai Jiayi Venture Investment Co., Ltd., and apply for its bankruptcy liquidation due to changes in external policy conditions [2]. Group 1: Overview of the Matter - The company held its 11th board meeting on February 17, 2025, where it approved the proposal to terminate the absorption merger of Jiayi Company and apply for bankruptcy liquidation [2]. - The Shanghai Third Intermediate People's Court accepted the company's bankruptcy liquidation application for Jiayi Company in November 2025 [3]. Group 2: Progress of Bankruptcy Liquidation - The company received a decision from the Shanghai Third Intermediate People's Court, designating Beijing Tianchi Juntai Law Firm as the administrator for Jiayi Company, with He Zhigang as the responsible person [3]. - The company completed the handover of materials with the administrator in December 2025 [4]. Group 3: Impact on the Company - Jiayi Company will no longer be included in the company's consolidated financial statements starting December 2025 [5]. - The company has fully provided for bad debts related to Jiayi Company's receivables and has also fully provided for impairment of long-term equity investments, indicating that the bankruptcy liquidation will not significantly impact the company's current profit and loss [5]. - The company will handle Jiayi Company's external investment matters according to relevant legal provisions, with specific impacts on profit and loss to be determined by the results of the bankruptcy liquidation and related audit data [5].