*ST Kaiyuan (300338.SZ) has issued an announcement. The company has received a notice of 'application for court reorganization and pre-reorganization of Kaiyuan Education' from its creditor, Changsha Kaiyuan Instrument Co., Ltd. (referred to as 'Kaiyuan Instrument'). Kaiyuan Instrument has recently submitted an application for reorganization and pre-reorganization of the company to the Changsha Intermediate People's Court.
According to the announcement released by *ST Kaiyuan (300338.SZ), the company has received a notice of 'application for court reorganization and pre-reorganization of Kaiyuan Education' from its creditor, Changsha Kaiyuan Instrument Co., Ltd. (referred to as 'Kaiyuan Instrument'). Kaiyuan Instrument has recently submitted an application for reorganization and pre-reorganization of the company to the Changsha Intermediate People's Court.
As of the date of this announcement, the company has not yet received any documents from the court regarding the initiation of pre-reorganization or acceptance of the reorganization application. There is uncertainty as to whether the reorganization and pre-reorganization application by the applicant will be accepted by the court, and whether the company will enter into pre-reorganization or reorganization procedures in the future is also uncertain. Even if the court decides to accept the pre-reorganization application, it does not mean that the company has officially entered into the reorganization process. If the company's pre-reorganization is successful, the court will review whether to accept the reorganization application in accordance with the law, and there is uncertainty as to whether the company will enter into the reorganization process. The company will promptly disclose the progress of relevant matters.
