*ST兰黄(000929.SZ)：拟参与恒兴果汁破产重整

Core Viewpoint - Company *ST Lanhua (000929.SZ) has decided to participate as a potential investor in the bankruptcy reorganization of Zhongning Hengxing Juice Co., Ltd, following the approval of its board of directors [1] Group 1: Board Decisions - The board of directors held its 19th meeting on December 16, 2025, where the proposal to participate in the bankruptcy reorganization was approved with a unanimous vote of 9 in favor, 0 against, and 0 abstentions [1] - The proposal was previously reviewed and approved by the company's strategic committee [1] Group 2: Investment Process - The company has been authorized to handle all matters related to the reorganization, including due diligence, formulating investment plans, participating in selection processes, and signing investment agreements [1] - On December 17, 2025, the company submitted its investment intention registration and paid the registration deposit [1] Group 3: Status as a Contingent Investor - On December 19, 2025, the company received a notification from the administrator indicating that it was not selected as a primary investor but was designated as the first alternate investor for the reorganization [1] - The administrator will prioritize signing the reorganization investment agreement with the selected investor, and if that investor cannot proceed, the company will negotiate to sign the agreement as the alternate investor [1]