Securities Code: 000677
Stock Abbreviation: ST Hengan
Announcement No.: 2026-040
Hengan Marine Holdings Co., Ltd.
Announcement on Abnormal Stock Trading Fluctuations
The Company and the entire Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed herein, and are free from any false representations, misleading statements, or material omissions.
Risk Warning:
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Hengan Marine Holdings Co., Ltd. (hereinafter referred to as the "Company") plans to acquire no less than 40% of the equity in Xi'an Qunjian Aviation Precision Manufacturing Co., Ltd. through its wholly-owned subsidiary Beijing Duofu Hengan Aviation Control Technology Co., Ltd. with cash. The transaction is currently in the due diligence phase, and there may be risks of uncertainty in transaction progress, investment decision adjustments, and business integration and operation in the future.
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Regarding the dispute over profit liability filed by Weifang Guoheng Industrial Development Group Co., Ltd. against the Company, the Company has been actively communicating with its subsidiary Shandong Hengan Borayte Chemical Fiber Co., Ltd. (hereinafter referred to as "Borayte") and other shareholders of Borayte regarding repayment and execution issues. The case has entered the execution phase. If the Company cannot reach an agreement with the minority shareholders of Borayte on the dividend distribution plan for Borayte to its shareholders, or if the special financing approval from financial institutions is not obtained and funds are not in place in a timely manner, the Company will face the risk of being unable to repay the outstanding debt in full and on time. Under the aforementioned circumstances, the Borayte equity held by the Company may be subject to judicial compulsory enforcement. Once the equity is auctioned, the Company may lose control over Borayte. Given that Borayte is the core operating entity and the main source of income and profit for the Company, losing control will directly lead to the significant risk of the Company losing its main business, thereby having a major adverse impact on the Company's sustainable operating capability.
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According to Article 9.4.1 of the "Shenzhen Stock Exchange Stock Listing Rules," if a listed company falls under any of the following circumstances, the Exchange will issue a delisting risk warning for its stock trading: (VI) The financial report internal control is issued an audit report with a disclaimer of opinion or a negative opinion for two consecutive accounting years, or the internal control audit report of the financial report is not disclosed as required. If the internal control audit report for the Company's 2026 fiscal year is issued with a disclaimer of opinion or a negative opinion, the Company's stock trading will be subject to a delisting risk warning.