Zhengbang subsidiary’s reorganization plan gets court approval

On October 14, 2025, Jiangxi Zhengbang Technology announced that its subsidiary, Liaoning Chaoyang Zhengbang Ecological Agriculture Co., Ltd. (Chaoyang Zhengbang), received a court order from the Chaoyang Intermediate People's Court approving its reorganization plan. This approval signifies Chaoyang Zhengbang's entry into the execution phase, which is expected to resolve its debt issues and impact the company's 2025 financial data.

Prior to this approval, Chaoyang Zhengbang's pre-reorganization application was accepted on July 25, 2025, followed by the formal acceptance of its reorganization application on September 4, 2025. The first creditor's meeting was held on October 10, 2025, where all creditor groups voted to approve the plan.

Meanwhile, Jiangxi Zhengbang Technology also reported additional litigation and arbitration matters. As of September 30, 2025, the company and its holding subsidiaries have cumulative new litigation and arbitration cases totaling 84,409.28 thousand yuan. This includes cases where the company or its subsidiaries are plaintiffs, totaling 44,604.61 thousand yuan, and cases where they are defendants or co-defendants, amounting to 39,804.66 thousand yuan.