Stock Code: 000023 Stock Abbreviation: *ST Shentian Announcement No.: 2024-067 Shenzhen Tiandi (Group) Co., Ltd. Announcement Regarding the Progress and Risk Warning of Other Risk Warnings Imposed on the Company's Stock Trading The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the contents of this announcement, and that there are no false records, misleading statements, or material omissions.
| | Special Reminder: | | 1. Upon verification, the Company's controlling shareholder, Guangdong Junhao Equity Investment Holding Co., Ltd. (hereinafter referred to as "Controlling Shareholder" or "Guangdong Junhao"), has engaged in non-operating fund misappropriation of the Company's funds, and the situation is serious. According to the Shenzhen Stock Exchange's Stock Listing Rules 9.8.1, "If a listed company falls under any of the following circumstances, the Exchange will implement other risk warnings on its stock trading: ..... (I) The company has serious misappropriation of funds" and Article 9.8.2: "The serious misappropriation of funds mentioned in Article 9.8.1 (I) of these rules refers to a situation where the balance of funds misappropriated by the controlling shareholder or related parties of the controlling shareholder of the listed company exceeds RMB 10 million, or exceeds 5% of the company's most recent audited net assets, and there is no feasible solution or although a solution has been proposed, it is expected that it cannot be resolved within one month." The balance of funds misappropriated by the controlling shareholder or related parties of the controlling shareholder exceeds RMB 10 million, exceeds 5% of the company's most recent audited net assets, and it is expected that it cannot be resolved within one month. The company's stock was subject to additional risk warnings on September 27, 2023. For details, please refer to the "Announcement Regarding the Implementation of Additional Risk Warnings on the Company's Stock Trading" (Announcement No.: 2023-063) disclosed by the company on September 27, 2023.
- On May 10, 2024, the company and its actual controller, Mr. Lin Hongrun, received the "Decision of the Shenzhen Securities Regulatory Bureau on Ordering Corrective Measures against Shenzhen Tiandi (Group) Co., Ltd. and Mr. Lin Hongrun" ([2024] No. 90) (hereinafter referred to as the "Corrective Measures") from the Shenzhen Securities Regulatory Bureau of the China Securities Regulatory Commission (hereinafter referred to as the "Shenzhen Securities Regulatory Bureau"). | | --- | --- | --- | --- | --- |
For details, please refer to the "Announcement Regarding the Company and Actual Controller Receiving the Order to Rectify from the Shenzhen Securities Regulatory Bureau and Risk Warning" disclosed by the Company on May 11, 2024 (Announcement No.: 2024-031). According to Chapter 9, Section 4 of the "Shenzhen Stock Exchange Stock Listing Rules (2024 Revision)," if the Company fails to recover the RMB 137 million of misappropriated funds within six months as required by the order to rectify, the Shenzhen Stock Exchange will suspend trading of the Company's shares. If rectification is not completed within two months after the suspension, the Shenzhen Stock Exchange will issue a delisting risk warning for the Company's stock trading. If rectification is still not completed within two months thereafter, the Shenzhen Stock Exchange will decide to terminate the listing of the Company's shares. Investors are reminded to pay close attention to the Company's delisting risk. To complete the rectification, the Company must recover all funds misappropriated by the controlling shareholder or its related parties. 1/4
I. Basic Circumstances Regarding the Company's Encounter with Overlapping Risk Warning Indicators