Wuhan Raycus Fiber Laser Technologies announcement: On November 8, 2024, the company received a written notice from the customer's Wuhan Lingchuang's parent company Cangzhou Lingchuang. Due to financial issues, Cangzhou Lingchuang and Wuhan Lingchuang are basically in a state of suspension. Cangzhou Lingchuang has decided to undergo bankruptcy reorganization and has submitted an application to the local court. The company has initiated litigation procedures for accounts receivable against the two companies. The court ruled that Wuhan Lingchuang should pay the company 29.5617 million yuan plus interest, and Cangzhou Lingchuang will bear joint liability. As of the announcement date, the company's outstanding accounts receivable balance from Wuhan Lingchuang is 29.8027 million yuan, with bad debt provision already made at 2.7648 million yuan. The company plans to make a 100% impairment provision for Wuhan Lingchuang's accounts receivable. It is expected that the bankruptcy reorganization of Cangzhou Lingchuang will have a certain impact on the company's performance, but will not have a significant impact on the normal operation of the company's business. The company will closely monitor the progress of the reorganization and safeguard the company's rights through legal means.