Announcement of Hongda Xingye Co., Ltd. on the Possible Termination of Listing Due to Stock Price Below Par Value - Sixth Risk Warning
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.
Special Reminder
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Hongda Xingye Co., Ltd. (hereinafter referred to as "the Company") and its actual controller are under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws, which may pose a significant risk of forced delisting. According to the Shenzhen Stock Exchange Listing Rules, if the Company's stock is delisted, the convertible bonds issued by the Company will also be delisted. Investors are advised to invest rationally and pay attention to risks.
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If the "Hongda Convertible Bonds" trigger the conditional redemption clause in the prospectus, investors may request redemption. Due to financial constraints, as of December 31, 2023, the Company has an available fund balance of 230,700 RMB (unaudited), which poses a risk of default on the redemption of convertible bonds.
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As of January 11, 2024, the Company's stock closing price has been below 1 RMB per share for fifteen consecutive trading days. According to Article 9.2.1 of the Shenzhen Stock Exchange Listing Rules, if the stock closing price remains below 1 RMB per share for twenty consecutive trading days, the stock will be delisted from the Shenzhen Stock Exchange.
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According to Article 9.2.3 of the Shenzhen Stock Exchange Listing Rules, if a listed company has a daily closing price below 1 RMB for ten consecutive trading days, it must disclose a risk warning announcement regarding the potential termination of its stock listing. This announcement must be made before the market opens on the next trading day and repeated daily until the situation is resolved or a delisting decision is made by the Shenzhen Stock Exchange.