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, with no false records, misleading statements, or significant 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 of 2024, hereinafter referred to as "the Decision") 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 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 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 in 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 Decision from the CSRC, and the specific content of the Decision is announced as follows:
Parties Involved: Shenzhen Xinhai Technology Group Co., Ltd. (hereinafter referred to as Xinhai), located at No. 168, Jingmao Road, Suzhou Industrial Park, Jiangsu Province. Zhang Yibin, male, born in December 1964, then Chairman and President of Xinhai, residing at Room 1, Building 32, Lanyun Garden, Suzhou Industrial Park, Jiangsu Province. Dai Wei, female, born in March 1976, served as Chief Financial Officer of Xinhai from March 2010 to December 2019, residing at Room 1204, Building 6, Tianchen Garden, Canglang District, Suzhou, Jiangsu Province. Xu Lei, male, born in October 1983, then Secretary of the Board of Directors of Xinhai, residing at Room 1302, Building 9, No. 88, Jiuhua Road, Suzhou Industrial Park, Jiangsu Province. Xi Fang, male, born in October 1963, has served as Chief Financial Officer of Xinhai since April 2020, residing at No. 20, Lane 119, Shaanxi North Road, Jing'an District, Shanghai.
In accordance with the relevant provisions of the "Securities Law of the People's Republic of China" (revised in 2005 and amended in 2014) (hereinafter referred to as "the Securities Law"), the CSRC conducted an investigation and hearing regarding Xinhai's violations of information disclosure. The parties were informed of the facts, reasons, basis for the administrative penalty, and their rights. At the request of Xinhai, Zhang Yibin, Dai Wei, Xu Lei, and Xi Fang, a hearing was held on April 25, 2023, to listen to the statements and defenses of the parties and their representatives. The investigation and hearing have now concluded.