fujian superpipe announced that, due to multiple factors such as long-term arrears of accounts receivable in the PPP projects and BT projects invested by the company, intensified market competition, the company's cash flow is extremely tight, leading to the inability to repay part of the bank PPP project loan principal or working capital interest on November 20 as scheduled, resulting in overdue payments and interest arrears. The total overdue amount of PPP project loans is 0.161 billion yuan; the balance of working capital loans is 0.668 billion yuan, and the amount of interest arrears is 2.724 million yuan. The company will continue to take multiple measures to actively increase the collection of accounts receivable. The company is actively communicating with banks, financial institutions, and other relevant parties, gradually resolving the debt overdue issue through methods such as loan extensions and adjusting repayment plans.