*ST Chunxing (002547.SZ) initiates out-of-court restructuring and debt filing

Zhitong Finance App News, *ST Chunxing (002547.SZ) issued an announcement. In order to properly resolve the company's current operating risks and guarantee its ability to continue operating, the 34th meeting of the sixth board of directors deliberated and passed the “Proposal on the Company's First Implementation of Out-of-Court Reorganization”, agreeing that the company would first carry out an out-of-court restructuring and apply to the competent court for pre-restructuring or restructuring when conditions are ripe; at the same time, the company's board of directors authorized the management to take full responsibility for matters relating to the out-of-court restructuring.