Jiu Rong Holdings Limited disclosed that its indirectly wholly-owned unit, Zhe Jiang Jiu Rong Intelligent Technology, has been sued by Soyea Technology Innovation Development over alleged unpaid rent totaling RMB 17.06 million. The civil action, filed with the People’s Court of Qiantang District, Hangzhou (Case No. (2026) Zhe 0114 Min Chu 6367), pertains to five house-lease contracts covering premises at Building 1, No. 2, 8th Street, Baiyang Subdistrict, Qiantang District, Hangzhou, for the period 1 January 2023 to 31 May 2025.

The plaintiff, a wholly-owned subsidiary of Soyea Technology Co., Ltd.—a shareholder of Jiu Rong Holdings—claims the defendant has paid only RMB 0.55 million of the total RMB 17.61 million rent and is seeking immediate settlement of the outstanding RMB 17.06 million plus litigation and preservation costs. The court hearing is scheduled for 22 October 2026.

Management indicated that, while the suit could exert pressure on the Group’s cash flow and working capital, the overall operational impact remains to be determined pending the court’s final ruling. Jiu Rong Holdings has engaged PRC legal advisers and intends to mount an active defense while continuing discussions with creditors on broader debt-resolution plans.

The company cautioned that additional asset freezes or disposals cannot be ruled out before the litigation concludes and that potential liquidated damages, legal expenses and preservation fees could increase financial and administrative costs. Further announcements will be issued as material developments arise.

Shareholders and prospective investors are advised to exercise caution in dealing in the company’s shares.