000979SZSE

Announcement on Failure to Repay Due Debts

Zhonghong Retreat Co., Ltd.·December 3, 2018·3 pages

✨ AI Summary

This announcement details Zhonghong Holdings Co., Ltd.'s failure to repay due debts totaling approximately 943.62 million yuan. The company has incurred additional overdue debts of 61.10 million yuan as of November 30, 2018. The board is negotiating with creditors and exploring asset sales and restructuring to address the financial crisis. Investors are advised to be aware of the associated risks.

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Full Translation

AI Translation· azure_openai

Zhonghong Holdings Co., Ltd.
Announcement on Failure to Repay Due Debts

The company and all members of the board guarantee that the information disclosed is true, accurate, and complete, with no false records, misleading statements, or significant omissions.

I. Basic Situation of Unpaid Due Debts

(1) Previously Announced Overdue Debts

As of November 28, 2018, Zhonghong Holdings Co., Ltd. (hereinafter referred to as "the Company" or "Zhonghong") has overdue debts totaling 882,515.57 thousand yuan. For specific details, please refer to the Company's announcement No. 2018-207 published on November 29, 2018, in "China Securities Journal," "Securities Times," "Shanghai Securities Journal," "Securities Daily," and on the website of Giant Tide Information (www.cninfo.com.cn).

(2) Recently Added Overdue Debts

As of November 30, 2018, the Company and its subsidiaries have incurred additional overdue debts totaling 61,103.61 thousand yuan, all of which are various types of loans. The details of the newly overdue debts are as follows:

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