As of 8 May 2026, Kaisheng New Energy Co., Ltd.'s 12-month cumulative litigation
and arbitration totaled RMB333 mln, equal to 10.73% of its most recent audited
net assets; the company did not file a supplemental disclosure until 29 June
2026, constituting untimely disclosure. The Shanghai Stock Exchange has issued
regulatory warnings to Kaisheng New Energy and to then-chairman Xie Jun,
then-general manager Chen Peng and then-board secretary Chen Hongzhao.