Zhidu Holdings Responds to Overseas Subsidiary Litigation and Chairman's Resignation

Zhidu Holdings Issues Clarification Announcement to Address Market Concerns

Recently, Zhidu Holdings officially issued a clarification announcement in response to online media reports regarding lawsuits involving its overseas subsidiaries. The announcement also addressed the resignation of Chairman Lu Hongda, drawing widespread market attention.

Overseas Subsidiary Litigation: Two Cases Still in Judicial Proceedings

According to the announcement, three overseas subsidiaries of Zhidu Holdings were sued in November 2025. In February 2026, the court upheld jurisdictional objections and dismissed the plaintiff's claims. However, the plaintiff subsequently refiled lawsuits against two of the subsidiaries, and those cases remain in judicial proceedings.

Zhidu Holdings emphasized the following key points in its announcement:

• The litigation is unrelated to the company's day-to-day production and operations
• The plaintiff has not specified a monetary amount for damages
• The matter has not met the disclosure threshold for interim announcements
• All business operations continue to function normally

From a legal process perspective, the earlier dismissal of the case against one of the three subsidiaries on jurisdictional grounds indicates certain procedural deficiencies in the plaintiff's litigation strategy. Although the remaining two subsidiaries have been re-sued, the substantive impact of the cases remains to be seen, as the plaintiff has yet to specify a clear compensation amount.

Chairman Lu Hongda's Resignation Draws Attention

Beyond the overseas litigation, the market has also closely followed the resignation of Lu Hongda as chairman and board director. In response, Zhidu Holdings stated that after thorough verification, there are no material matters related to Lu Hongda's resignation that should have been disclosed but were not.

Changes in chairmanship are often regarded by the market as significant signals concerning corporate governance. By addressing both the litigation and the personnel change in a single clarification announcement, Zhidu Holdings aims to send a clear message to investors that "the company's operations are stable and its information disclosure is compliant."

Market Impact and Outlook

From an information disclosure standpoint, Zhidu Holdings' proactive release of a clarification announcement demonstrates the listed company's awareness of responding to public concerns. However, several aspects remain worthy of investors' continued attention:

First, litigation developments. The refiled cases against the two overseas subsidiaries are still progressing. If the plaintiff submits specific compensation claims or the cases reach substantive milestones, information disclosure obligations may be triggered.

Second, management stability. Whether the new management team can maintain strategic continuity and operational consistency following the chairman's departure is one of the market's core concerns.

Third, business fundamentals. Zhidu Holdings has emphasized that "all business operations are functioning normally." Investors can verify the company's actual operational performance through subsequent financial reports.

Overall, the overseas litigation facing Zhidu Holdings has not yet created a clearly defined financial risk exposure, and the specific reasons behind the chairman's resignation require further observation. For investors, maintaining rational attention and tracking subsequent announcement disclosures represents the most prudent approach at present.