Xuelang Environment involved in a total of 94.87 million yuan financial loan contract dispute; the case has not yet gone to court.

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Wuxi Xuelang Environmental Technology Co., Ltd. (Securities code: 300385, stock abbreviation: Xuelang Environmental) released a major litigation announcement on March 24. The company has recently received the “Writ of Summons” and the “Civil Statement of Claim” served by the People’s Court of Binhu District, Wuxi City. The lawsuit was filed by Bank of Agriculture of China Limited, Wuxi Binhu Sub-branch (hereinafter referred to as “Agricultural Bank Binhu Sub-branch”) due to a dispute over a financial loan contract. The total amount involved is RMB 94.87 million (excluding the compound interest and penalty interest stated in the plaintiff’s claims). The company, as the defendant, has not yet entered the trial stage for the case.

According to the announcement, this litigation is divided into two cases, both of which were filed by Agricultural Bank Binhu Sub-branch as the plaintiff. Case one concerns a factoring financing business. The plaintiff requests the court to order Xuelang Environmental to pay the factoring financing principal of RMB 14.10 million and overdue penalty interest (from February 28, 2026 until the date of actual settlement), calculated using RMB 14.10 million as the base and at an annual interest rate of 2.8% with a 50% premium, and to pay legal fees of RMB 0.93 million and related case expenses. Case two concerns two floating (working) capital loan(s). The plaintiff requests the court to order Xuelang Environmental to immediately repay the loan principal of RMB 80.00 million, pay outstanding interest during the period of RMB 0.39 million, the corresponding overdue penalty interest, compound interest of the outstanding interest during the period, and bear the attorney’s agency fee of RMB 2.90 million. As of February 27, 2026, the amount in dispute for the lawsuit is RMB 80.68 million.

According to the plaintiff’s statements, in the “Chain-Jie Loan” business cooperation agreement and related working capital loan contracts signed between Xuelang Environmental and Agricultural Bank Binhu Sub-branch, due to breach of contract circumstances such as overdue repayment by the company, the plaintiff, in accordance with the contractual provisions, declared the debts due earlier and brought the lawsuit.

Regarding the impact of the litigation on the company, Xuelang Environmental stated that the case is currently in the stage of not yet being heard, and it is still impossible to determine whether the outcome will affect current-period profit or future-period profit. The final result will be based on the opinions of the annual audit institution. The company will take relevant legal measures to actively respond to the case in accordance with the law, and will timely fulfill its information disclosure obligations based on the progress of the case.

In addition, the announcement also discloses that as of the date of this announcement, the cumulative amount of litigation and arbitration matters that have not met disclosure standards involving the company and its controlling subsidiaries within the past twelve consecutive months totals RMB 0.15 million, accounting for 0.06% of the company’s most recently audited net assets. There are no major litigations or arbitrations that should have been disclosed but have not been disclosed. Meanwhile, on January 14, 2026, the company received a notice of filing and registration from the Intermediate People’s Court of Wuxi City, Jiangsu Province regarding a petition by a creditor for pre-reorganization. However, there is uncertainty about whether it can enter the reorganization proceedings and whether the reorganization will be successful.

The following are the specific details of the two lawsuits:

• | 9410.40 |
• | 9487.63 (excluding compound interest and penalty interest) |

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Responsible editor: Xiao Lang Express