000979SZSE

Announcement on Failure to Repay Due Debts

Zhonghong Retreat Co., Ltd.·December 17, 2018·3 pages

✨ AI Summary

This announcement details Zhonghong Holdings Co., Ltd.'s failure to repay due debts totaling approximately 1.14 billion yuan. The company has incurred additional overdue debts of about 203.7 million yuan recently. It is actively negotiating with creditors and seeking solutions, including asset sales and debt restructuring, to address its financial difficulties.

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AI Translation· azure_openai

Announcement on Failure to Repay Due Debts

Zhonghong Holdings Co., Ltd. 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 December 3, 2018, Zhonghong Holdings Co., Ltd. (hereinafter referred to as "the Company" or "Zhonghong") has overdue debts totaling 943,619.18 thousand yuan. For specific details, please refer to the Company's announcement No. 2018-209 published on December 4, 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

On December 9, 14, and 16, 2018, the Company and its subsidiaries incurred additional overdue debts totaling 203,695.58 thousand yuan, all of which are various types of loans. The details of the newly overdue debts are as follows:

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