Pan Hai Holdings Co., Ltd. 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.
I. Explanation of the Appointment of the Sponsor Securities Firm
Due to Pan Hai Holdings Co., Ltd. (hereinafter referred to as "the Company") having its stock price below 1 yuan for twenty consecutive trading days from November 30, 2023, to December 27, 2023, it has triggered the mandatory delisting conditions as stipulated in the Shenzhen Stock Exchange's (hereinafter referred to as "SZSE") "Stock Listing Rules (Revised August 2023)." The Company received a "Pre-Notice" (Company Department Letter [2023] No. 336) from the SZSE on December 28, 2023, indicating that the SZSE intends to terminate the listing of the Company's stock.