Temporary Trustee Management Report on Major Matters of Oceanwide Holdings Co., Ltd. by CITIC Construction Investment Securities Co., Ltd.
CITIC Construction Investment Securities Co., Ltd. (hereinafter referred to as "CITIC Securities") acts as the trustee for the bonds issued by Oceanwide Holdings Co., Ltd. (hereinafter referred to as "Oceanwide Holdings," "the Company," "the Issuer") including "18 Hai Kong 01," "19 Fan Kong 01," "19 Fan Kong 02," "20 Fan Kong 01," "20 Fan Hai 01," and others. In accordance with relevant regulations such as the "Administrative Measures for the Issuance and Trading of Corporate Bonds," "Code of Conduct for Corporate Bond Trustees," "Shenzhen Stock Exchange Corporate Bond Listing Rules," and agreements signed with Oceanwide Holdings, this report addresses significant matters concerning Oceanwide Holdings and the aforementioned bonds.
1. Situation Regarding the Receipt of Administrative Regulatory Measures Decision
On January 31, 2024, the Company received the China Securities Regulatory Commission Beijing Regulatory Bureau's decision document [2024] No. 27 (hereinafter referred to as "the Decision"). The main contents are announced as follows:
(1) Main Content of the Decision
"Upon investigation, your company has the following violations for failing to timely disclose relevant overdue debt situations:
-
Everbright Xilong Loan: Your subsidiary in Wuhan had an agreement with Everbright Xilong Trust Co., Ltd. (hereinafter referred to as Everbright Xilong), requiring repayment of principal amounts of 100 million yuan by December 20, 2020, 100 million yuan by June 20, 2021, and 1.53 billion yuan by August 3, 2021. However, the Wuhan company did not repay as agreed, and your company failed to disclose this situation, involving a principal amount of 1.55 billion yuan, until it was mentioned in the "Major Litigation Announcement" on July 7, 2021.
-
Shandong High-speed Loan: The Wuhan company had an agreement with Shandong High-speed Global Financing Leasing Co., Ltd., requiring repayment of 200 million yuan by April 30, 2020, and at least 1.545 billion yuan by August 20, 2020. The Wuhan company did not repay as agreed, and your company failed to disclose this situation, involving a principal amount of 1.745 billion yuan, until it was mentioned in the announcement regarding the receipt of the "Execution Notice" and "Execution Ruling" on April 3, 2021.