Announcement on the Court's Designation of Temporary Administrator During Company's Pre-Reorganization Period
The company and all members of the board guarantee that the information disclosed is true, accurate, complete, and does not contain false records, misleading statements, or major omissions.
Special Reminder:
- On May 11, 2023, the 52nd meeting of the 5th Board of Directors of Yan'an Bikon Pharmaceutical Co., Ltd. (hereinafter referred to as "the Company" or "Yan'an Bikon") approved the proposal to apply to the court for pre-reorganization to avoid further deterioration of the company's debt and operational risks. Details of the pre-reorganization application can be found in the announcement disclosed by the company on May 12, 2023 (Announcement No. 2023-083).
- On May 12, 2023, the company received the decision from the Intermediate People's Court of Yan'an City, Shaanxi Province (2023) Shaan 06 Po Shen 3, agreeing to accept the company's pre-reorganization application. The court's decision to conduct pre-reorganization does not mean the company has formally entered the reorganization process. There remains significant uncertainty regarding whether the company can enter the reorganization process, and the company has not yet received any legal documents from the court regarding its entry into the reorganization process.
- Recently, the company received the decision from the Intermediate People's Court of Yan'an City, Shaanxi Province (2023) Shaan 06 Po Shen 3-1, (2023) Shaan 06 Po Shen 3-4, and the notice from the court. According to Article 15 of the "Regulations of the Supreme People's Court on the Designation of Administrators in Bankruptcy Cases," the court designated Shaanxi Moda Law Firm as the temporary administrator for the company's bankruptcy pre-reorganization case from the list of administrators compiled by the Shaanxi Provincial High People's Court.
- The company has triggered conditions for delisting. Regardless of the success of this pre-reorganization, it does not affect the company's risk of delisting. Investors are advised to invest rationally and pay attention to investment risks.