Risk Warning Announcement Regarding the Company's Stock Potentially Facing Major Illegal Forced Delisting
The company and all members of the board guarantee that the content of the 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" (No. 14 [2024]) issued by the China Securities Regulatory Commission (hereinafter referred to as "CSRC"). According to the facts established in the "Decision" and the Company's disclosed 2019 annual report, the net profit attributable to the parent company's owners for the three consecutive accounting years from 2016 to 2018 was actually negative, and the net profit for the 2019 accounting year, after deducting non-recurring gains and losses, was also negative. This situation triggers the major illegal forced delisting circumstances as 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 major illegal forced delisting.