Bestway Marine to use capital reserves to cover accumulated losses

Bestway Marine & Energy Technology Co., Ltd. held its Sixth Board of Directors' Fourteenth Meeting, Sixth Supervisory Board's Tenth Meeting on August 26, 2025, and its First Extraordinary General Meeting of Shareholders on September 11, 2025. During these meetings, a proposal to use statutory reserve funds to offset losses was approved.

As of December 31, 2024, the company's parent company reported accumulated undistributed profit of -1,291,339,553.87 yuan, with a surplus reserve of 37,502,985.24 yuan and a capital reserve of 1,809,280,223.43 yuan. Bestway Marine will use 37,502,985.24 yuan from its parent company's surplus reserve and 1,253,836,568.63 yuan from its capital reserve, totaling 1,291,339,553.87 yuan, to cover the parent company’s accumulated losses.

Creditors are notified that they have 30 days from receiving the notice or 45 days from the announcement's disclosure date to claim repayment or demand guarantees, supported by valid creditor documents. Failure to exercise these rights within the stipulated period will not invalidate their claims, and the company will continue to fulfill its obligations as per original creditor agreements.