002776SZSE

Announcement of Abnormal Stock Trading Fluctuations

*ST Bailong Co., Ltd.··4 pages

✨ AI Summary

This announcement informs that Guangdong Baibolong Co., Ltd. has experienced abnormal stock trading fluctuations due to a significant decline in stock prices. The company faces uncertainties regarding its restructuring application after a creditor's request was deemed non-compliant. Additionally, the company has a negative net asset value, leading to a delisting risk warning. Investors are advised to exercise caution.

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Full Translation

AI Translation· azure_openai

Securities Code: 002776
Securities Abbreviation: *ST Baibolong
Announcement Number: 2023-065

Guangdong Baibolong Co., Ltd. Stock Trading Abnormal Fluctuation Announcement

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 significant omissions.

Special Reminder:

  1. Guangdong Baibolong Co., Ltd. (hereinafter referred to as "the Company") was applied for reorganization and pre-reorganization by creditor Shenzhen Shifan Clothing Co., Ltd. (hereinafter referred to as "Shifan Clothing") to the Jieyang Intermediate People's Court (hereinafter referred to as "Jieyang Intermediate Court") on August 31, 2023. As of September 5, 2023, Shifan Clothing received a notice from Jieyang Intermediate Court stating: "Regarding the bankruptcy reorganization application case between Shifan Clothing and Baibolong, your submitted application does not comply with Article 3 of the 'Notice on the Trial of Bankruptcy Reorganization Cases of Listed Companies' issued by the Supreme People's Court and Articles 4 and 5 of the 'Notice on Strengthening the Acceptance of Enterprise Bankruptcy Cases' issued by the Guangdong Provincial High Court." There is significant uncertainty regarding whether the company will proceed with reorganization and pre-reorganization.
  2. Due to the audited net assets attributable to shareholders of the listed company being -654,576,295.28 yuan for the year 2022, the company's stock trading has been subject to delisting risk warnings.

I. Introduction to Abnormal Stock Trading Fluctuations
The stock of Guangdong Baibolong Co., Ltd. (Securities Abbreviation: *ST Baibolong; Securities Code: 002776) experienced a cumulative deviation of 13.11% in daily closing prices over three consecutive trading days (November 9, 2023, November 10, 2023, and November 13, 2023). According to the relevant provisions of the 'Shenzhen Stock Exchange Stock Listing Rules,' this constitutes an abnormal trading fluctuation.

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