According to an announcement from Zhitong Finance APP, Shenzhen Deren Electronic (002055.SZ) has reported that its controlling subsidiary Meta System S.p.A. (hereinafter referred to as "Meta") is facing a business dilemma with negative net assets and an inability to repay maturing debts. Previously, Meta had engaged in self-negotiation with relevant creditors, but due to delays in the capital increase process by Jianengmeida (Taizhou) Holding Co., Ltd. (hereinafter referred to as "Jianengmeida") and other reasons, the capital injection funds were not in place as scheduled, leading to unsuccessful self-negotiation.

In accordance with relevant Italian laws, Meta must file for Composition with Creditors Proceedings (translated as: 债权人和解程序, hereinafter referred to as "CP program") with the local court. The CP program is a court-involved process supervised by the local court for companies within Italy, initiated by the debtor filing a procedural application to the court and submitting plans and creditor repayment schemes within a statutory timeframe. The creditor's repayment plan must be passed by a vote from creditors and approved by the court for execution, in order to balance the company's operational and financial conditions. Entering the CP program will allow Meta to maintain normal operations under legal protection, continue to receive support from customers and suppliers, and effectively alleviate issues related to low asset levels and tight funding by bringing in investors and reaching settlements with creditors. Otherwise, other parties such as creditors and Meta's statutory audit committee have the right to file for bankruptcy liquidation with the court.

Meta primarily engages in business related to new energy vehicle onboard power management modules, which are an important part of the Autos Industry Chain, possessing core technological advantages and high-quality customer groups in the field of onboard power management modules. In the CP program, some clients and suppliers may be willing to continue supporting Meta. Meta has hired professional intermediary Institutions for coordinating with investors and designing reconciliation plans. Entering the CP program is a crucial pathway for Meta to avoid further deterioration of debt risk, properly and reasonably handle creditor-debtor relationships, and reverse its financial predicament.