Xinjiang Sayram subsidiary's bankruptcy proceedings concluded by court

Xinjiang Xinsai Trading Co., Ltd., a wholly-owned subsidiary of Xinjiang Sayram Modern Agriculture Co., Ltd., has officially concluded its bankruptcy proceedings. The Urumqi Toutunhe District People's Court issued a civil ruling to terminate the bankruptcy procedure, effective December 19, 2025. This decision followed the completion of the bankruptcy asset distribution plan and the administrator's application.

The bankruptcy liquidation process for Xinjiang Xinsai Trading commenced in 2022 due to sustained losses and insufficient assets to cover debts. The application for bankruptcy liquidation was approved by Xinjiang Sayram's Seventh Board of Directors and Seventh Board of Supervisors on June 23, 2022. The court formally accepted the bankruptcy liquidation application on September 7, 2023.

Guohao Law Firm (Urumqi) was appointed as the bankruptcy administrator, and Xinjiang Xinsai Trading was subsequently deconsolidated from Xinjiang Sayram's financial statements. Xinjiang Sayram stated that the bankruptcy liquidation will not significantly impact its current operations or the consolidated net profit for the current period.