*ST Mubang (603398.SH): The company was asked to refund 510 million yuan in financial subsidies and support funds

Zhitong Finance App News, *ST Mubang (603398.SH) issued an announcement that due to the photovoltaic cell project not progressing according to the agreed schedule for a long time and failed to be put into operation, the total amount of financial subsidies and support funds requested by the Wuzhou Municipal People's Government was 510 million yuan; the company needed to deposit 150 million yuan of initial capital into the special account for project funds in accordance with the supplementary agreement, and had already accrued a penalty of 13.65 million yuan (subsequent penalties may continue to be calculated). If the company is eventually required to refund the relevant amounts and fails to meet its capital payment obligations in a timely manner, it is expected to have a significant adverse impact on the company's current and post-period profits, cash flow and financial position.