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/*ST Jingfeng: Announcement on the company’s major litigation
NEWS

*ST Jingfeng: Announcement on the company’s major litigation

Shenzhen Stock Exchange
2026/03/26

Securities code: 000908 Securities abbreviation: *ST Jingfeng Announcement number: 2026-037

Hunan Jingfeng Pharmaceutical Co., Ltd.

Announcement on major company litigation

The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete, and contains no false records, misleading statements or major omissions.

Special tips:

  1. The litigation stage of the case: Case 1 has been decided by the first instance; Case 2 has been filed.

  2. The party position of the company (subsidiary): in case one, the company is the plaintiff; in case two, the company is the defendant.

  3. Amount involved: The total amount involved in case one is approximately RMB 10.3881 million [including compensation for 57 items of equipment of RMB 10.2385 million, the case acceptance fee borne by Shanghai Jingfeng Pharmaceutical Co., Ltd. (hereinafter referred to as "Shanghai Jingfeng") is 64,600 yuan, and the evaluation fee borne by Shanghai Jingfeng is 85,000 yuan]; the total amount involved in case two is approximately RMB 18.3382 million [including decoration payment] 8.5 million yuan, liquidated damages of 2.426 million yuan and overdue payment interest of 5.8822 million yuan (from January 1, 2021, based on 8.5 million yuan, calculated based on 4 times the loan market quotation rate announced by the National Interbank Funding Center until the date of actual repayment, tentatively calculated to November 9, 2025), the plaintiff has incurred legal fees of 1.53 million yuan in this case].

  4. Impact on the company's profits and losses: Case 1 has been decided in the first instance and has not yet taken effect. There is still uncertainty about the specific impact of this litigation matter on the company's profits for the current period or subsequent profits. The final accounting treatment and the amount of the impact shall be subject to the results after audit and confirmation by the accounting firm. Case 2 has not yet been heard in court, and the impact on the company's current or subsequent profits cannot be prejudged. The company will pay close attention to the subsequent progress of the above-mentioned cases and timely perform its information disclosure obligations based on the progress of the cases. Investors are advised to pay attention to investment risks.

1. Litigation situation

(1) Case 1 situation

Recently, Shanghai Jingfeng, a subsidiary of Hunan Jingfeng Pharmaceutical Co., Ltd. (hereinafter referred to as the "Company" or "Jingfeng Pharmaceutical"), received the "Civil Judgment" from the Shanghai Baoshan District People's Court (hereinafter referred to as the "Baoshan District Court") [Case No.: (2024) Shanghai 0113 Early Republic of China 8244 [No. The basic information about this case is as follows:

  1. Parties to the litigation

Plaintiff: Shanghai Jingfeng Pharmaceutical Co., Ltd.

Defendant: Shanghai Baoji Pharmaceutical Co., Ltd.

  1. Basic information of the case

Shanghai Jingfeng and Baoji Pharmaceutical signed the "Asset Transfer Contract" on September 6, 2021. Shanghai Jingfeng transferred the ownership of the real estate numbered "Shanghai Fang Di Bao Zi (2015) No. 042185" in its name to Baoji Pharmaceutical and completed the transfer procedures. Later, the two parties signed the "Equipment and Facility Asset Transfer Contract" on October 11, 2021 and reached a transaction for the large number of facilities and equipment placed by Shanghai Jingfeng in the premises. Later, in November 2021, the two parties communicated about Baoji Pharmaceutical's plan to repurchase equipment and facilities such as the original workshop (201), eukaryotic workshop (202), and preparation workshop (203). However, the final transaction was not reached, resulting in the untraded equipment and facilities being stored at No. 50 Luoxin Road. Although Shanghai Jingfeng communicated with Baoji Pharmaceutical many times, the above-mentioned equipment and facilities have not been moved out due to the obstruction of Baoji Pharmaceutical. Therefore, Shanghai Jingfeng sued the court to request the return of the corresponding facilities and equipment and payment of usage fees.

Information about this case has been mentioned in the "Announcement on Accumulated Litigation and Arbitration Cases" (Announcement No.: 2024-098) disclosed by the company on cninfo.com on September 26, 2024.

  1. Plaintiff’s claim

  1. The defendant was ordered to return to the plaintiff a total of 96 pieces of equipment and facilities belonging to the plaintiff in the protokaryotic workshop (201), eukaryotic workshop (202), and preparation workshop (203);

  2. The defendant is ordered to pay the plaintiff the usage fees during the period of illegal possession and use of the plaintiff’s above-mentioned equipment and facilities (based on the original value of 30,253,209.93 yuan of the equipment and facilities, and calculated based on 50,000 per day of the original value, calculated from March 28, 2022 to the date of return).

During the litigation process, Shanghai Jingfeng made a request for litigation preparation:

  1. The defendant is ordered to compensate the plaintiff for the loss of equipment and facilities worth 19,303,790 yuan (this amount is based on the assessment conclusion of the asset assessment report issued by Shanghai Jilian Asset Appraisal Co., Ltd. on December 12, 2025 on the subject matter involved in the (2024) Shanghai 0113 Minchu No. 8244 case);

  2. The defendant is ordered to pay a capital occupation fee to the plaintiff based on 19,303,790 yuan from April 1, 2022 to the date of actual payment, based on 1.5 times the 1-year loan market quoted interest rate (LPR) announced by the National Interbank Funding Center.

  1. Judgment of this lawsuit

Recently, Shanghai Jingfeng received the "Civil Judgment" [(2024) Hu 0113 Minchu No. 8244] served by the Baoshan District Court. The judgment is as follows:

  1. The defendant Shanghai Baoji Pharmaceutical Co., Ltd. shall compensate the plaintiff Shanghai Jingfeng Pharmaceutical Co., Ltd. for 57 items of equipment totaling 10,238,520 yuan according to the assessed value within ten days from the date of entry into force of this judgment, corresponding to items 1, 2, 3, 4, 5, 6, 7, 8, 10, 12, 13, 14, 15, 16, 17, 18, 19, 20,

21, 22, 23, 24, 25, 26, 27, 28, 29, 34, 35, 36, 37, 38, 39, 41, 42,

43, 45, 46, 47, 48, 49, 57, 58, 59, 60, 61, 65, 66, 67, 68, 70, 76,

83, 84, 85, 91, 93 equipment losses;

  1. Dismiss the other claims of the plaintiff Shanghai Jingfeng Pharmaceutical Co., Ltd.

If the monetary payment obligation is not performed within the period specified in this judgment, the debt interest for the period of delayed performance shall be doubled in accordance with the provisions of Article 264 of the Civil Procedure Law of the People's Republic of China.

The case acceptance fee for this case was 137,622 yuan, of which 64,629 yuan was borne by the plaintiff Shanghai Jingfeng Pharmaceutical Co., Ltd. and 72,993 yuan was borne by the defendant Shanghai Baoji Pharmaceutical Co., Ltd. The evaluation fee is 170,000 yuan, which is borne equally by the plaintiff and the defendant.

If you are dissatisfied with this judgment, you can submit an appeal to the Baoshan District Court within fifteen days from the date of delivery of the judgment, and submit copies according to the number of opposing parties, and appeal to the Shanghai No. 2 Intermediate People's Court.

(2) Case 2 situation

Recently, the company received the "Summons" and "Notice of Respondent" [Case No.: (2025) Su 0506 Minchu No. 21129] served by the Wuzhong District People's Court of Suzhou City (hereinafter referred to as "Wuzhong District Court"). The Wuzhong District Court has filed a case regarding the decoration contract dispute between Suzhou Shenmei Design and Construction Co., Ltd. (hereinafter referred to as "Shenmei Design") and Shanghai Jingfeng and Jingfeng Pharmaceutical. The basic information about this case is as follows:

  1. Parties to the litigation

Plaintiff: Suzhou Shenmei Design and Construction Co., Ltd.

Defendant 1: Shanghai Jingfeng Pharmaceutical Co., Ltd.

Defendant 2: Hunan Jingfeng Pharmaceutical Co., Ltd.

  1. Basic contents of "Civil Complaint"

On March 1, 2016, Shenmei Design signed a "Decoration Contract" with Shanghai Jingfeng. The contract stipulated that Shanghai Jingfeng would subcontract the "Taihu Star 567# Decoration Project" to the plaintiff for decoration. The contract was exercised at a fixed total price of 24 million yuan. On October 15, 2020, Shenmei Design and Shanghai Jingfeng signed a "Supplementary Agreement", which determined that the personnel salary compensation and incremental amount of the project involved in the case would be settled at 2.6 million yuan, so the total price of the project involved in the case was 26.6 million yuan.

The project involved in the current case has been renovated and actually put into use, but Shanghai Jingfeng has only paid 18.1 million yuan in decoration payment to Shenmei Design, and the remaining 8.5 million yuan in decoration payment has not yet been paid. Shenmei Design has repeatedly urged Shenmei Design to no avail. Because Shanghai Jingfeng is a sole proprietorship and Jingfeng Pharmaceutical is the sole shareholder of the first defendant, Jingfeng Pharmaceutical should bear joint and several liability for repayment if it cannot prove that its property is independent of Shanghai Jingfeng.

  1. Plaintiff’s claim

  1. The defendant was ordered to pay the plaintiff 8.5 million yuan for renovation, 2.426 million yuan for liquidated damages, and 5.88218889 yuan for overdue payment interest (from January 1, 2021, based on 8.5 million yuan, calculated based on 4 times the loan market quotation rate announced by the National Interbank Funding Center until the actual repayment date, tentatively until November 9, 2025);

  2. The defendant is ordered to pay 1.53 million yuan in attorney fees incurred by the plaintiff in this case;

  3. The second defendant is ordered to be jointly and severally liable for the debts mentioned above by the first defendant;

  4. The court ordered that the litigation costs of this case should be borne by the two defendants.

2. Other litigation and arbitration matters that have not yet been disclosed

In addition to the above-mentioned litigation and arbitration matters, as of the disclosure date of this announcement, the small-amount litigation and arbitration matters existing in the company and its holding subsidiaries are mainly small-amount contract disputes, labor disputes, etc., which do not meet the disclosure standards for major litigation and arbitration matters stipulated in the "Shenzhen Stock Exchange Stock Listing Rules".

The company and its holding subsidiaries have no other major litigation or arbitration matters that should be disclosed but have not been disclosed.

3. The possible impact of this lawsuit on the company’s current or subsequent profits

Case 1 has been decided in the first instance and has not yet taken effect. There is still uncertainty about the specific impact of this litigation matter on the company's profits for the current period or subsequent profits. The final accounting treatment and the amount of the impact shall be subject to the results of the audit and confirmation by the accounting firm. Case 2 has not yet been heard in court, and the impact on the company's current or subsequent profits cannot be prejudged. The company will pay close attention to the subsequent progress of the above-mentioned cases and timely perform its information disclosure obligations based on the progress of the cases. Investors are advised to pay attention to investment risks.

4. Documents for reference

  1. "Civil Judgment" [Case No.: (2024) Shanghai 0113 Minchu No. 8244];

  2. "Summons" and "Notice of Response" [Case No.: (2025) Su 0506 Minchu No. 21129].

Announcement hereby

Board of Directors of Hunan Jingfeng Pharmaceutical Co., Ltd.

March 26, 2026