Zhongfu Straits Pingtan subsidiary bankruptcy pre-reorganization progress

Zhongfu Straits Pingtan Development (SZSE:000592) announced that its application to the court for the pre-reorganization of its bankrupt subsidiary, Fujian Zhongfu Straits Building Materials City, is currently under material review, pending court acceptance. The initial proposal was greenlit at board and shareholder meetings in December 2023 and January 2024. The company emphasizes that the pre-reorganization process is still uncertain and will actively cooperate with the court to study the feasibility of the pre-reorganization. Zhongfu Straits Pingtan Development reassures investors that the matter will not trigger delisting warnings or suspension of trading for its shares. The company will continue to disclose updates on the situation via the Securities Times and the Juchao Information Network, urging investors to be aware of investment risks.