Announcement on the Company's Receipt of the Chairman's "Market Ban Decision"
Shenzhen Xinhai Technology Group Co., Ltd. and all members of the board guarantee that the content of this information disclosure is true, accurate, and complete, without false records, misleading statements, or major omissions.
Special Reminder: On February 5, 2024, Shenzhen Xinhai Technology Group Co., Ltd. (hereinafter referred to as "the Company") received the "Administrative Penalty Decision" (2024 No. 14) issued by the China Securities Regulatory Commission (hereinafter referred to as "CSRC"). According to the facts determined in the "Decision" and the Company's disclosed 2019 annual report, the net profit attributable to the parent company's owners (hereinafter referred to as "net profit") was negative for three consecutive accounting years from 2016 to 2018, and the net profit for the 2019 accounting year, after deducting non-recurring gains and losses, was also negative. This situation triggers the mandatory delisting circumstances stipulated in Article 9.5.1 (1) and Article 9.5.2 (3) of the "Shenzhen Stock Exchange Stock Listing Rules (Revised August 2023)" (hereinafter referred to as "the Listing Rules"). The Company's stock may be subject to mandatory delisting due to significant violations.
On February 5, 2024, the Company received the "Market Ban Decision" (2024 No. 2) issued by the CSRC, and the specific content of the "Market Ban Decision" is announced as follows:
Party Involved: Zhang Yibin, male, born December 1964, currently serving as the Chairman and President of Shenzhen Xinhai Technology Group Co., Ltd. (hereinafter referred to as "Xinhai"), residing at Room 1, Building 32, Lanyun Garden, Suzhou Industrial Park, Jiangsu Province.