300208SZSE

Progress and Risk Warning Announcement Regarding the Company's Investigation

Zhongcheng Retreat Co., Ltd.··3 pages

✨ AI Summary

Qingdao Zhongzi Zhongcheng Group Co., Ltd. is under investigation by the China Securities Regulatory Commission for alleged information disclosure violations. The company received a notice of potential delisting from the Shenzhen Stock Exchange on May 7, 2025, and has submitted a hearing request. The final outcome will depend on the formal administrative penalty decision from the regulatory authority.

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Full Translation

AI Translation· azure_openai

Securities Code: 300208

Securities Abbreviation: *ST Zhongcheng

Announcement Number: 2025-052

Qingdao Zhongzi Zhongcheng Group Co., Ltd. (hereinafter referred to as "the Company") and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, with no false records, misleading statements, or significant omissions.

Special Reminder:

  1. On April 30, 2025, the Company disclosed its "2024 Annual Report," "Audit Report," and "Internal Control Audit Report" on the Giant Tide Information Network. The audit report issued by Xinhua Accounting Firm (Special General Partnership) included a qualified opinion with respect to going concern and emphasized significant uncertainties. The internal control audit report contained an adverse opinion. The Company has triggered circumstances under Article 10.3.11 (3) and (5) of the Shenzhen Stock Exchange's GEM Listing Rules. On May 7, 2025, the Company received a "Notice of Delisting" (GEM Letter [2025] No. <120>) from the Shenzhen Stock Exchange, which intends to terminate the Company's stock listing. For details, please refer to the announcement "Regarding Receipt of Notice of Delisting" disclosed by the Company on May 7, 2025 (Announcement Number: 2025-046). The Company submitted a hearing application to the Shenzhen Stock Exchange on May 8, 2025. If the Company participates in the hearing but the Exchange ultimately decides to terminate the listing, the Company's stock will be delisted.

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