Special Risk Warning on Debt Restructuring
Sichuan Yanshan Chemical (Group) Co., Ltd. regarding the special risk warning on debt restructuring.
As of April 14, the company has obtained consent from 244 creditors for a total debt transfer amounting to 302 million yuan, of which 174.33 million yuan is from creditor banks and 127.67 million yuan is from operational debts (this matter was announced on April 4 and April 14, 2002, in the "China Securities Journal" and "Securities Times"). During this debt transfer process, some creditor banks and Shenzhen Dapeng Securities Co., Ltd. have set additional conditions. The debts of 35.98 million yuan to Yinhua Chuan Sulfur and 28.16 million yuan to Yinhua Building Materials (including 3.6 million yuan agreed to be transferred by the Agricultural Bank of China, Zizhong County) must be secured by the respective assets of Yinhua Chuan Sulfur and Yinhua Building Materials, and this mortgage matter will be perfected after approval by the shareholders' meeting. Direction Optoelectronics will bear a guarantee of 39.8 million yuan for this debt transfer, while Shanxi Huike will bear a guarantee of 59.58 million yuan. The details are as follows: