*ST Meigu's second-instance appeal to uphold the original judgment, involving an amount of 33,095,300 yuan

*ST Meigu (Stock Code: 000615) announced on March 27 that the company has received the second-instance “Civil Judgment” from the Intermediate People’s Court of Guangzhou City, Guangdong Province regarding the dispute over the debt transfer contract with China Cinda Asset Management Co., Ltd. Guangdong Branch (referred to as “Cinda Asset Management”). The court ruled to dismiss the appeal and uphold the original judgment. As the defendant in this case, the company is required to bear joint guarantee liability for the debt of 33.0953 million yuan owed by Baoding Jinghan Junting Hotel Co., Ltd. (referred to as “Baoding Jinghan Junting”).

The case originated from a lawsuit filed by Cinda Asset Management due to disputes over the debt transfer contract, initially accepted by the People’s Court of Anci District, Langfang City, Hebei Province, and later transferred to the People’s Court of Tianhe District, Guangzhou City, Guangdong Province for adjudication. In July 2025, the first-instance court ruled that Baoding Jinghan Junting should repay the principal of the debt of 33.0953 million yuan and penalty interest, as well as attorney fees of 200,000 yuan to Cinda Asset Management, with *ST Meigu bearing joint guarantee responsibility for the principal portion, while several other defendants are jointly liable for the entire debt.

The second-instance court believes that the first-instance judgment clearly established the facts and correctly applied the law, thus upholding the original judgment. According to the announcement, the second-instance case acceptance fee of 209,800 yuan shall be borne by the appellants Tian Han and Li Li.

It is noteworthy that Cinda Asset Management issued a “Confirmation Letter” in December 2023, agreeing to only pursue *ST Meigu’s guarantee responsibility within the principal amount of 819.2317 million yuan under the remaining seven debt claims, exempting the company from any other relevant debt rights guarantee responsibilities beyond the principal.

*ST Meigu stated that the company’s restructuring plan has been fully executed, and it will conduct financial processing according to enterprise accounting standards, the actual situation of the litigation cases, and the execution status of the restructuring plan, with the specific impact on the current performance subject to the final annual audit results from the accounting firm. As of the announcement date, apart from the disclosed cases, the company and its subsidiaries have no other significant litigation or arbitration matters that should be disclosed but have not been disclosed.

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Editor: Xiaolang Express Report