Announcement on Progress of Company Stock Trading Being Subject to Delisting Risk Warning and Other Risk Warnings
The Company and all members of the Board of Directors guarantee the content of the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or material omissions.
Key Information Highlights:
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Delisting Risk Warning: Due to the Company's audited net profit after deducting non-recurring gains and losses of -85.579 million yuan, operating revenue of 5.785 million yuan, and net assets at year-end of -53.841 million yuan for 2024, the Company's stock trading has been subject to a delisting risk warning, in accordance with Article 10.3.1, Paragraph 1, Items (1) and (2) of the Shenzhen Stock Exchange GEM Stock Listing Rules (hereinafter referred to as the "Listing Rules").
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Other Risk Warnings: The high-efficiency solar cell production line of the Company's subsidiary, Jinzhai Jiarui New Energy Technology Co., Ltd. (hereinafter referred to as "Jiarui"), was temporarily suspended on March 14, 2024, and is expected to be unable to resume normal production within three months. The "2024 Internal Control Audit Report" received a negative opinion. The Company is involved in non-compliant guarantee situations that have not been resolved within the prescribed period. The lower of net profit before and after deducting non-recurring items for 2022-2024 was negative, and the 2024 financial report received an unqualified audit opinion with a paragraph on material uncertainty regarding going concern from Zhidao Certified Public Accountants (Special General Partnership) (hereinafter referred to as "Zhidao"). These situations trigger Article 9.4, Paragraph 1, Items (1), (4), (5), and (6) of the Listing Rules, and the Company's stock trading has been subject to other risk warnings.
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Application for Lifting Delisting Risk Warning and Other Risk Warnings: The Company disclosed its "2025 Annual Report" on March 31, 2026. In conjunction with the annual report and the progress in resolving the risk warning situations, the Company believes it meets the conditions to apply to the Shenzhen Stock Exchange (hereinafter referred to as "SZSE") for the removal of the various risk warnings. On the same day, the Company applied to the SZSE to remove the delisting risk warning and other risk warnings for its stock trading. The Company is currently supplementing the relevant application materials. The Company will fulfill its information disclosure obligations in a timely manner based on the progress. Whether the application can be approved by the SZSE remains uncertain. Investors are advised to pay attention to investment risks.