I. Overview of the Violation of Guarantee Matters
From October 2019 to January 2020, Nanning Baling Technology Co., Ltd. (hereinafter referred to as the "Company")’s former secondary holding subsidiary, Hainan Hongrun Tianyuan Gene Biotechnology Co., Ltd. (hereinafter referred to as "Hainan Hongtian"), under the leadership of Wang Anxiang, provided unauthorized pledges for three time deposits totaling 466 million yuan without following internal review procedures, resulting in the complete transfer of funds under these deposits. As a result of this violation, the Company’s stock has been subject to other risk warnings (ST) since July 2, 2020.