Announcement on the Situation of Bank Account Freezes
Risk Warning:
- Kaidi Ecological Environment Technology Co., Ltd. (hereinafter referred to as "the Company") received the Shenzhen Stock Exchange's decision on October 28, 2020, regarding the termination of the Company's stock listing (Shenzhen Stock Exchange [2020] No. 979). The Shenzhen Stock Exchange has decided to terminate the listing of the Company's stock. The trading start date for the delisting transition period is November 5, 2020, lasting for thirty trading days, with the expected last trading date being December 16, 2020.
- The Company and its subsidiaries are involved in numerous lawsuits and arbitration cases, which will adversely affect the Company's production and operational activities, as well as current and future profits. The Company has previously disclosed information regarding the freezing of its bank accounts on May 24, 2018, and has issued multiple announcements regarding additional frozen accounts on various dates from June 2018 to September 2020. Due to issues such as debt defaults, credit risks have arisen, leading creditors to take legal actions against the Company. The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
The latest statistics on the frozen accounts are as follows:
1. Status of Frozen Bank Accounts of Kaidi Ecological
As of October 20, 2020, a total of 28 accounts of Kaidi Ecological have been frozen, with a total frozen amount of 6,991,578,447.30 yuan and a balance of 4,670,212.70 yuan in the frozen accounts.