Dongxu Bluestar New Energy Co., Ltd. (hereinafter referred to as "the Company") and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, without false records, misleading statements, or significant omissions.
Special Reminder:
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As of March 21, 2025, the closing price of the Company's stock has been below 1 RMB for fourteen consecutive trading days. According to Article 9.2.1 and Article 9.1.15 of the "Shenzhen Stock Exchange Stock Listing Rules (2024 Revision)" (hereinafter referred to as "Listing Rules"), if a company listed on the Shenzhen Stock Exchange that only issues A-shares has a closing price below 1 RMB for twenty consecutive trading days, the Shenzhen Stock Exchange will terminate its stock listing. Stocks that are terminated due to trading-related mandatory delisting conditions will not enter the delisting adjustment period. Investors are advised to pay attention to investment risks.
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According to Article 9.2.4 of the Listing Rules, if a company listed on the Shenzhen Stock Exchange that only issues A-shares has a closing price below 1 RMB for ten consecutive trading days, it must disclose a risk warning announcement regarding the potential termination of its stock listing before the next trading day opens, and continue to disclose it every trading day until the relevant situation is resolved or the termination of listing occurs (whichever comes first). Investors are advised to pay attention to investment risks.
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As of March 5, 2025, the Company has non-operational fund occupation of 7.527 billion RMB that has not been recovered. The Company's stock resumed trading on March 7, 2025, and has been subject to delisting risk warnings since the resumption. As of the date of this announcement, the non-operational fund occupation remains at 7.527 billion RMB, with no substantial progress in recovery. There is currently no substantial repayment plan or clear timetable. According to Article 9.4.18 of the Listing Rules, if the Company fails to complete rectification within two months from the date the stock trading is subject to delisting risk warnings, the Shenzhen Stock Exchange will decide to terminate the Company's stock listing.
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On May 8, 2024, due to the Company's failure to disclose the 2023 annual report within the specified time, the China Securities Regulatory Commission (hereinafter referred to as "CSRC") initiated an investigation against the Company; on September 6, 2024, due to suspected violations of information disclosure regulations, the CSRC initiated an investigation against the Company and its controlling shareholder Dongxu Group Co., Ltd.; on March 15, 2025, the Company's actual controller Mr. Li Zhaoting received a "Notice of Investigation" (No. 03720255001) from the CSRC, due to suspected violations of information disclosure regulations. The Company, its controlling shareholder, and its actual controller have been investigated three times, and investors are advised to pay attention to investment risks.