Global top e-commerce faces reorganization uncertainty

Global Top E-Commerce (SZSE:002640) announced that its creditor, Yin Jie, applied to the Taiyuan Intermediate People's Court on May 10, 2023, for the company's reorganization and pre-reorganization due to its inability to pay debts and apparent lack of solvency. As of this announcement, the company has not received any notice or ruling from the Taiyuan court regarding the application. The Shenzhen Stock Exchange may implement delisting risk warnings if the court accepts the application. If the company is declared bankrupt, its stock may be terminated from listing. The company urges investors to exercise caution.