Sinofibers Technology faces appeal over 2024 shareholder and board resolutions

Sinofibers Technology Co., Ltd. announced it has received a civil appeal from Ms. Wen Yuefang, a plaintiff who previously sued the company regarding its 2024 resolutions. The plaintiff seeks to overturn the Changzhou Xinbei District People's Court's initial ruling and revoke the company's Third Board of Directors' Eighteenth Meeting Resolution dated November 29, 2024, and the Fourth Extraordinary General Meeting Resolution dated December 16, 2024. The plaintiff also requests that the lawsuit costs be borne by Sinofibers Technology.

The initial lawsuit, filed by Ms. Wen Yuefang, challenged the nomination, convocation, and voting procedures for director elections, alleging violations of company law and articles of association. On November 11, 2025, the Changzhou Xinbei District People's Court issued a civil judgment dismissing all of Ms. Wen Yuefang's claims. This appeal represents the next stage of the legal proceedings.

As of the announcement date, Sinofibers Technology has only received the appeal, and the specific timing for a second-instance hearing remains uncertain. The company stated that this litigation development is not expected to materially affect its ongoing operations or financial condition. The company will monitor the case closely and fulfill its information disclosure obligations.