Shengwei New Materials: Customer TPI applies for bankruptcy protection, which may have a certain impact on the company's performance

Shangwei New Materials announced that its wholly-owned subsidiary Shangwei Xingye's client TPI Composites, Inc. filed for relief under Chapter 11 of the U.S. Bankruptcy Code on August 11 to facilitate debt restructuring. TPI Mexico is a client of Shangwei Xingye, and Shangwei New Materials has accounts receivable of USD 4.1292 million, equivalent to approximately RMB 32.37 million. The company is assessing how to handle TPI's bankruptcy matters and is communicating with TPI Mexico regarding the repayment plan and subsequent supply agreements to maximize the company's interests. This matter may have a certain impact on the company's performance, but currently, the company's production and operations are normal, and other existing orders are stable