000939SZSE

Announcement on New Debt Maturity and Inability to Repay

Kaidi Retreat Co., Ltd.··10 pages

✨ AI Summary

This announcement informs that the company has failed to repay certain debts due to financial difficulties, totaling approximately 1.895 billion yuan. The company is facing lawsuits and arbitration, which may adversely affect its operations and financial status. Measures are being taken to address the debt crisis and restore profitability, including judicial restructuring and improving communication with creditors.

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Full Translation

AI Translation· azure_openai
  1. Securities Code: 000939
    Securities Abbreviation: Kaidi Retreat
    Announcement Number: 2020-125

Risk Warning:

  1. According to the relevant provisions of the "Shenzhen Stock Exchange Stock Listing Rules (Revised November 2018)", the company's stock will enter a delisting arrangement period of thirty trading days. The first trading day of the delisting arrangement period is November 5, 2020, with the expected last trading date being December 16, 2020.
  2. 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.

I. Debt Default Situation
The company has failed to repay certain due debts due to cash flow difficulties. The company has disclosed information regarding the unpaid debts on various dates in 2018 and 2019. The company and all members of the board guarantee the authenticity, accuracy, and completeness of the disclosed information, with no false records, misleading statements, or significant omissions.

II. Update on Repayment Situation
The specific details are as follows:

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