Jason Furniture shareholder enters reorganization proceedings

Jason Furniture (Hangzhou) Co., Ltd. announced on December 19, 2025, that its shareholder, Hangzhou Deye Jiajun Enterprise Management Co., Ltd., has entered reorganization proceedings. The Hangzhou Qiantang District People's Court accepted Deye Jiajun's reorganization application on October 15, 2025, due to its inability to repay due debts and insufficient assets. This follows an initial disclosure on November 20, 2025, regarding the court's acceptance of the reorganization of a shareholder holding over 5% of the shares.

The court has appointed a joint team consisting of Fangda Partners Law Firm, Zhejiang Liuhe Law Firm, and Zhejiang Tianping Certified Public Accountants (Special General Partnership) as the administrator for Deye Jiajun. This appointment was made through a competitive process.

Jason Furniture confirmed that Deye Jiajun is not the company's controlling shareholder or actual controller. Therefore, this matter will not lead to a change in the company's control or affect its daily operations and management. The company will continue to monitor the progress and fulfill its information disclosure obligations.