Core Viewpoint - *ST Huawang has announced that its bank accounts have been frozen due to a historical construction contract dispute, with a total of 8.4042 million yuan frozen [1][2] Group 1: Company Financial Situation - The freezing of bank accounts is primarily due to a court ruling related to a construction contract dispute, with the East A Court recently deciding to freeze funds totaling 8.4042 million yuan [1] - The company has filed for restructuring, with the Jiangsu Province Zhenjiang Intermediate People's Court accepting the application on September 9, 2024, and plans to approve the restructuring plan by November 15, 2024 [1] Group 2: Legal and Regulatory Context - According to Article 92 of the Enterprise Bankruptcy Law of the People's Republic of China, the approved restructuring plan is binding on the debtor and all creditors, and creditors must follow the law to claim their rights during the execution of the restructuring plan [1] - The company believes that the individual settlement through execution procedures violates relevant provisions of the Enterprise Bankruptcy Law and has applied to the East A Court to terminate the execution process [1] Group 3: Company Response and Future Actions - The company asserts that the freezing of some bank account funds will not significantly impact its production and operational activities [2] - The company is actively communicating with all parties involved to seek legal and regulatory resolutions, aiming to negotiate risk mitigation strategies and develop feasible solutions [2] - The company is taking necessary measures to protect its assets and safeguard the legal rights of all employees and investors [2]