ST Paling announced that the company's board of directors reviewed and passed the bill, agreed to dissolve and liquidate the holding subsidiary Indonesia Baling Technology Co., Ltd., and authorize the management to complete the relevant formalities. With a registered capital of US$1.1 million, the company holds 95% of the shares and is mainly engaged in the production and sale of heat exchangers. From January to September 2026, Indonesia's Baling had operating income of 392,700 yuan and a net loss of 327,500 yuan; as of September 30, 2026, net assets were 879,900 yuan. The cancellation is necessary to optimize the strategic layout and reduce costs and efficiency. It does not involve related transactions or major asset restructuring. After the cancellation, Indonesia Baling will no longer be included in the scope of consolidated statements, and will not adversely affect the company's overall business and continued profitability.

ST Paling announced that the company's board of directors reviewed and passed the bill, agreed to dissolve and liquidate the holding subsidiary Indonesia Baling Technology Co., Ltd., and authorize the management to complete the relevant formalities. With a registered capital of US$1.1 million, the company holds 95% of the shares and is mainly engaged in the production and sale of heat exchangers. From January to September 2026, Indonesia's Baling had operating income of 392,700 yuan and a net loss of 327,500 yuan; as of September 30, 2026, net assets were 879,900 yuan. The cancellation is necessary to optimize the strategic layout and reduce costs and efficiency. It does not involve related transactions or major asset restructuring. After the cancellation, Indonesia Baling will no longer be included in the scope of consolidated statements, and will not adversely affect the company's overall business and continued profitability.