According to the Zhitong Finance App, ST Hongtaiyang (000525.SZ) issued an announcement. On May 16, 2022, the company received the “Notice Concerning the Holding of the Substantive Merger and Reorganization Hearing of Nanjing No.1 Pesticide Group Co., Ltd., Jiangsu Guoxing Investment Co., Ltd., Nanjing Suwan Modern Agriculture Co., Ltd., and Jiangsu Sunong Agricultural Chain Group Co., Ltd.” on May 16, 2022, the main contents are as follows:

In the course of due diligence, the manager discovered that there is a high degree of correlation between Nanyinong Group and its affiliated enterprises, Jiangsu Sunong Agricultural Chain Group Co., Ltd., Jiangsu Guoxing Investment Co., Ltd., and Nanjing Suwan Modern Agriculture Co., Ltd., and that the conditions for substantial merger and restructuring are also conducive to ensuring the fair settlement of interests of creditors and enhancing restructuring profits. Therefore, the manager submitted an application to the Gaochun Court on May 10, 2022, requesting the Gaochun Court to decide on the substantive merger and restructuring of the above four companies.

After receiving the application, the Gaochun court decided according to law to hold a substantive merger and restructuring hearing for four companies including Nanyinong Group at 14:30 p.m. on May 25, 2022.