Xinjiang Sayram's subsidiary proceeds with bankruptcy liquidation

Xinjiang Sayram Modern Agriculture Co., Ltd. (SSE:600540) has announced the progress of bankruptcy liquidation for its wholly-owned subsidiary, Xinjiang Xinsai Trading Co., Ltd. The court accepted the bankruptcy liquidation application in September 2023. Recently, the court appointed a bankruptcy administrator from Guohao Lawyers (Urumqi) to manage the liquidation. The administrator is tasked with duties including managing assets, investigating the financial situation, and representing the company in legal proceedings. Xinjiang Sayram stated that the bankruptcy of Xinsai Trading will not significantly impact the company's operations and Xinsai Trading is no longer included in consolidated statements. The final impact on the company's profits will depend on the execution of the bankruptcy liquidation and auditor verification. Xinjiang Sayram will continue to monitor the progress and fulfill its disclosure obligations.