Hengtian Hailong Co., Ltd.
Announcement on Abnormal Stock Trading Fluctuations
The Company and all members of its Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and that there are no false representations, misleading statements, or material omissions.
Risk Warning:
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Hengtian Hailong Co., Ltd. (hereinafter referred to as the "Company") plans to acquire no less than 40% of the equity of Xi'an Qunjian Aviation Precision Manufacturing Co., Ltd. through its wholly-owned subsidiary Beijing Duofu Hailong Aviation 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 operations in the future.
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Regarding the dispute over the creditor's rights and interests lawsuit filed by Weifang Guoheng Industrial Development Group Co., Ltd. against the Company, the Company has actively communicated with its subsidiary Shandong Hailong Boray Chemical Fiber Co., Ltd. (hereinafter referred to as "Boray") and other shareholders of Boray regarding repayment and execution issues. The case has entered the execution phase. If the Company cannot reach an agreement with the minority shareholders of Boray on the dividend distribution plan for Boray 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 on time and in full. In the aforementioned situation, the equity of Boray held by the Company may be subject to judicial compulsory enforcement. Once the equity is auctioned, the Company may lose control over Boray. Given that Boray is the Company's core operating entity and main source of revenue and profit, losing control will directly lead to the significant risk of the Company losing its main business, thereby having a material adverse impact on the Company's sustainable operating capability.
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The actual controller of the Company, Mr. Hu Xingrong, has been subjected to compulsory measures by the relevant authorities. Mr. Hu Xingrong does not hold any position in the Company and does not participate in the Company's daily production and operation decisions. Currently, the decision-making mechanisms of the Company's Board of Directors and management are operating normally, and the Company's production and operation are normal.
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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, its stock trading will be subject to a delisting risk warning: (VI) the financial report's internal control is issued with a disclaimer of opinion or a negative opinion audit report 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.