000667SZSE

Notice on the Initiation of Pre-Reorganization for Wholly-Owned Subsidiary

ST Mei Zhi Co., Ltd.··5 pages

✨ AI Summary

The announcement informs that the company's wholly-owned subsidiary, Wuhan Meihao Jincheng Real Estate Co., Ltd., has been initiated for pre-reorganization by the Qiaokou District Court due to insolvency. The court appointed a temporary administrator to oversee the process. If successful, this could improve the subsidiary's financial structure and business operations; however, failure may lead to bankruptcy. Investors are advised to exercise caution.

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Full Translation

AI Translation· azure_openai

The company and all members of the board guarantee that the information disclosed is true, accurate, and complete, with no false records, misleading statements, or significant omissions.

Special Reminder:

  1. The company's wholly-owned subsidiary, Wuhan Meihao Jincheng Real Estate Co., Ltd. (hereinafter referred to as "Meihao Jincheng" or "the Respondent"), has received a decision from the Qiaokou District Court of Wuhan City, Hubei Province (hereinafter referred to as "Qiaokou District Court") regarding the initiation of pre-reorganization. The court has appointed the liquidation team established by the Wuhan Qiaokou District People's Government to act as the temporary administrator. The initiation of pre-reorganization does not indicate that Meihao Jincheng has formally entered the reorganization process. Investors are advised to make prudent decisions, invest rationally, and be aware of investment risks.
  2. If the court formally accepts the reorganization application and successfully implements the reorganization plan, it will help improve Meihao Jincheng's asset-liability structure and restore normal business development, promoting improvement in its operational situation and sustainable development. If the reorganization fails, there is a risk of bankruptcy for Meihao Jincheng. Investors are advised to make prudent decisions, invest rationally, and be aware of investment risks.
  3. As of May 24, 2023, the closing price of Meihao Real Estate Group Co., Ltd. (hereinafter referred to as "the Company") has been below 1 yuan per share for nineteen consecutive trading days and is expected to remain below 1 yuan per share for twenty consecutive trading days. According to the Shenzhen Stock Exchange Listing Rules, Articles 9.2.1 and 9.1.15, the company's stock may be delisted without entering the delisting arrangement period. Investors are advised to make prudent decisions, invest rationally, and be aware of investment risks.

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