奥园美谷已与国民信托正式签署“重整服务”信托合同！

Core Viewpoint - *ST Meigu has officially signed the "National Trust · Phoenix No. 22 Aoyuan Meigu Restructuring Service Trust Plan Trust Contract" and a series of supporting transfer agreements, marking the entry of its bankruptcy restructuring plan into the core execution phase [1][3]. Group 1: Restructuring Plan Details - The trust plan has a scale of 24.7519 million yuan, which will facilitate asset divestiture and trust operations to provide repayment channels for creditors, helping the company to overcome operational difficulties [4]. - The restructuring process began with a pre-restructuring procedure in November 2024, with the formal acceptance of the restructuring case by Xiangyang Intermediate Court on November 14, 2025, and the approval of the "Restructuring Plan" on December 16 of the same year [4][9]. - The plan involves divesting certain equity assets to a newly established trust platform company, with the platform's 100% equity and corresponding debts serving as trust property for the service trust [4][9]. Group 2: Trust Plan Structure - The trust is defined as a corporate bankruptcy service trust, with a term of 5 years that can be automatically extended for 12 months; the trust property includes equity (market value of 10,000 yuan) and debts (liquidation value of 24.7419 million yuan), corresponding to 24.7519 million trust shares [4][9]. - The management of trust property will adopt a "three-tier governance structure," with a beneficiary meeting as the highest decision-making body, and a management committee responsible for daily trust affairs [6][11]. Group 3: Asset Divestiture - *ST Meigu has completed the divestiture of three core assets: 23.6486% equity in Hubei Jinhui Green Fiber Co., Ltd. for 14.733 million yuan, 94% equity in Beijing Longyun Private Fund Management Co., Ltd. for 3.2242 million yuan, and 66% partnership share in Xiangyang Longyun Equity Investment Partnership for 6.7847 million yuan [5][10]. - Following these transfers, the three companies will no longer be included in *ST Meigu's consolidated financial statements [5][10]. Group 4: Future Outlook - Industry analysts view the establishment of the restructuring service trust as a key measure for *ST Meigu to resolve its debt crisis, achieving both debt repayment and business divestiture [12]. - The trust model provides creditors with a continuous income distribution channel and helps the listed company focus on its core business by divesting non-core assets [12]. - The financial situation of *ST Meigu is expected to improve as trust assets are gradually disposed of, although the effectiveness of the restructuring will depend on the operational efficiency of underlying assets and market conditions [12].