Jiurong New Energy, a subsidiary of Jiurong Holdings (02358), received a subpoena from the Hangzhou Shangcheng District People's Court

Zhitong Finance App News, Jiurong Holdings (02358) issued an announcement. On September 21, 2026, Jiurong New Energy, a subsidiary of the Group, received a subpoena from the People's Court (court) of Shangcheng District, Hangzhou. The legal procedure was initiated by the Wangjiang Street Office of the People's Government of Shangcheng District, Hangzhou (plaintiff) against Jiurong New Energy (an indirect wholly-owned subsidiary of the Company) over a land lease contract dispute. Case number is (2026) Zhejiang 0102 Minchu No. 24053. The court is scheduled to hear the case on September 28, 2026.

According to the civil complaint, the plaintiff filed the following lawsuit:

(i) The defendant was ordered to pay the total amount of outstanding site rent of RMB 2,909,008.02;

(ii) Order the defendant to pay interest arising from overdue rent payments (the interest calculation method is based on a one-year LPR until the date of actual payment);

(iii) Order the defendant to immediately vacate the space and rent the site and pay the plaintiff the site occupancy fee from July 1, 2026 to the date of actual vacancy of the site.

After preliminary assessment, the Board concluded that, depending on the outcome of the lawsuit, the Group may be liable for unpaid rent, interest and site occupancy fees, and may have to vacate the leased space, or adversely affect the Group's financial position and cash flow. The Group's main business segments continue to operate normally.