Xuelang Environment withdraws lawsuit over 35.58 million yuan financial loan contract dispute; no impact on company profits

Wuxi Xuelang Environmental Technology Co., Ltd. (Stock Code: 300385, Stock Abbreviation: Xuelang Environment) announced a major litigation update on April 2, disclosing that a financial loan contract dispute involving the company with an amount of 35.5865 million yuan has been withdrawn by the plaintiff as per court ruling. This matter has no impact on the company’s current or future profits.

The announcement shows that the plaintiff, Bank of Beijing Co., Ltd. Wuxi Branch, filed a lawsuit against Xuelang Environment at Wuxi Binhu District People’s Court in March 2026 over a financial loan contract dispute, involving an amount of 35,586,493.56 yuan (excluding interest and penalty interest specified in the claim). Xuelang Environment had previously disclosed this lawsuit on March 20.

Recently, the company received the “Civil Ruling” issued by Binhu Court【(2026)Su0211Minchu3764】. The ruling states that, because the plaintiff, Bank of Beijing Co., Ltd. Wuxi Branch, did not prepay the case acceptance fee within seven days after the court lawfully served the notice of litigation fee payment, the case is dismissed as withdrawn by the plaintiff in accordance with relevant legal provisions.

Additionally, the announcement discloses that as of the date of this announcement, the total amount of litigation and arbitration matters (including subsidiaries) that have occurred within the past twelve months but have not yet been disclosed due to not meeting disclosure standards is 423.4k yuan, accounting for 0.18% of the company’s most recent audited net assets. The company and its controlling subsidiaries have no major litigation or arbitration matters that should be disclosed but have not been disclosed.

Xuelang Environment also mentioned that on January 14, 2026, it received a notice from Wuxi Intermediate People’s Court of Jiangsu Province regarding the filing of the creditor’s pre-reorganization application. The company emphasizes that the filing does not mean the formal acceptance of the company’s reorganization. As of now, whether the court will accept the reorganization, whether the reorganization process will proceed, and whether it will succeed remain uncertain. The company states that regardless of whether it enters the reorganization process, it will actively maintain normal production and operation management.

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