Core Viewpoint - Changcheng Micro Light (08286.HK) has reached a settlement with creditors regarding its liquidation application and has requested to withdraw it, with a related hearing scheduled for December 10, 2025. The company is facing a critical shareholder loan extension agreement due in 2026, raising ongoing concerns about its cash flow situation [1][2]. Recent Events - On February 11, 2026, it was reported that Changcheng Micro Light has settled with creditors and applied for the withdrawal of its liquidation application, with a hearing set for December 10, 2025. The company is also dealing with a key shareholder loan extension agreement that is due in 2026, which continues to attract market attention regarding its cash flow status [1][2]. Stock Performance - Over the past 7 days (as of February 13, 2026), Changcheng Micro Light's stock price has shown significant volatility, with a single-day increase of 15.70% to HKD 0.14 on February 12, 2026, and a trading volume of HKD 32,200. The cumulative increase over 5 days reached 21.74%, while the 20-day increase was 57.30%. Technical indicators suggest that the stock price has touched the upper Bollinger Band (HKD 0.143), with the MACD histogram turning positive at 0.008 and the KDJ indicator's J line rising to 56.85, indicating potential short-term overbought conditions [3]. Financial Analysis - The company is under significant financial pressure, with a 4.2% year-on-year decrease in revenue for the first half of 2025, amounting to HKD 8.662 million, and a widening loss attributable to shareholders of HKD 4.111 million. As of the end of 2024, the debt-to-asset ratio reached 187%, with only HKD 2.92 million in cash on hand, indicating a tight cash flow situation that poses challenges to operational stability [4].

根据分析，公司在2022年与主要股东达成的一笔1460万元贷款展期协议，将利息支付延迟至2026年。这 一财务安排在今年面临节点，其进展对公司资金链至关重要。公司业绩长期承压，2025年上半年收益同 比减少4.2%至866.2万元，拥有人应占亏损扩大至411.1万元。同时，截至2024年末，公司资产负债率高 达187%，账上现金仅292万元，资金紧张状况仍是核心挑战。 以上内容基于公开资料整理，不构成投资建议。 2025年12月3日，公司公告已与债权人施韦箂有限公司就一笔58.59万港元的服务费债务签署和解协议， 并共同向香港高等法院申请撤销清盘呈请。相关聆讯时间最初定于2025年12月10日。 财务状况 经济观察网长城微光(08286.HK)近期清盘呈请已与债权人达成和解并申请撤销，聆讯定于12月10日。同 时，一笔关键股东贷款展期协议面临节点，公司资金链状况备受关注。 近期事件 ...

第 1 頁 共 10 頁 v 1.2.0 | | | | 上月底結存 | | | 110,000,000 RMB | | 0.1 RMB | | 11,000,000 | | --- | --- | --- | --- | --- | --- | --- | --- | | 增加 / 減少 (-) | | | | | RMB | | | | 本月底結存 | | | 110,000,000 RMB | 0.1 | RMB | | 11,000,000 | | 2. 股份分類 | 普通股 | 股份類別 | 其他類別 (請註明) | 於香港聯交所上市 (註1) | | 否 | | | 證券代號 (如上市) | N/A | 說明 | 內資股 | | | | | | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08286 | 說明 | | | | | | | | | | | | 法定/註 ...

Compensation - The total compensation for Mr. Shen, the acting CEO for the year ended December 31, 2016, was RMB 141,000, which includes a salary of RMB 117,000 and retirement plan contributions of RMB 24,000[3] Governance Structure - The board of directors consists of eight members, including three executive directors and three independent non-executive directors, ensuring a diverse governance structure[4] Disclosure Accuracy - The company confirms that all information disclosed in the announcement is accurate and complete, with no misleading or fraudulent elements[4]

第 1 頁 共 10 頁 v 1.1.1 致：香港交易及結算所有限公司 公司名稱: 山西長城微光器材股份有限公司 本月底法定/註冊股本總額： RMB 30,886,000 | 2. 股份分類 | 普通股 | 股份類別 | | 其他類別 (請註明) | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | 內資股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 198,860,000 | RMB | | 0.1 RMB | | 19,886,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 198,860,000 | RMB | | 0.1 RMB | | 19,886,000 | | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | | 是 | | | --- | ...

Group 1 - The core announcement is regarding the clarification and voluntary announcement related to the liquidation petition of Great Wall Microelectronics (08286.HK) [1] - The Hong Kong High Court agreed to withdraw the liquidation petition on December 10, 2025, following a joint application by the company and the petitioner [1]

Group 1 - The core point of the article is that Great Wall Microelectronics (08286) announced the Hong Kong High Court's approval to withdraw the winding-up petition on December 10, 2025, following a joint application by the company and the petitioners [1]

Core Viewpoint - The Hong Kong High Court has agreed to withdraw the winding-up petition for Great Wall Microelectronics (stock code: 08286) following a joint application by the company and the petitioners [1] Group 1 - The court's decision was made on December 10, 2025 [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴該等 內容而引致的任何損失承擔任何責任。 撤回清盤呈請 本公佈乃由山西长城微光器材股份有限公司（「本公司」）根據香港聯合交易所有 限公司（「聯交所」）GEM證券上市規則（「GEM上市規則」）17.10(2)(a)條及 第17.27(1)(b)條以及香港法例第571章證券及期貨條例第XIVA部項下的內幕消息 條文（定義見GEM上市規則）所作出。 茲提述本公司日期為二零二五年九月七日之公告，內容有關澄清公告及自願性公告 有關清盤呈請之補充公佈（「該公告」）。除另有所指外，本公告所用詞彙與該公 告所界定者具有相同涵義。 山 西 長 城 微 光 器 材 股 份 有 限 公 司 SHANXI CHANGCHENG MICROLIGHT EQUIPMENT CO. LTD.* （於中華人民共和國註冊成立之股份有限公司） （股份代號：8286） 內幕消息 主席 吳波 中國山西省太原市，二零二五年十二月十日 於本公告日期，董事會由八位董事組成，分別為：三名執行董 ...

Core Viewpoint - The company, Great Wall Microelectronics (stock code: 08286), has reached a settlement agreement with the petitioner, leading to the withdrawal of a winding-up petition in the Hong Kong High Court [1] Group 1 - The settlement agreement was established on November 29, 2025 [1] - The petitioner and the company submitted a consent summons to the Hong Kong High Court on December 1, 2025, requesting the withdrawal of the winding-up petition [1] - The Hong Kong High Court has postponed the hearing to December 10, 2025, at 10:30 AM [1]