Announcement on the Progress of Matters Regarding the Company's Stock Trading Being Subject to Other Risk Warnings
The Company and the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and that there are no false records, misleading statements, or material omissions.
Special Reminder:
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Shenzhen Changfang Group Co., Ltd. (hereinafter referred to as the "Company" or "Changfang Group") received the "Administrative Penalty Prior Notice" (No. [2025] 1) issued by the Shenzhen Regulatory Bureau of the China Securities Regulatory Commission (hereinafter referred to as the "Shenzhen CSRC"). On January 10, 2025, the Company disclosed the "Announcement on Receiving the Administrative Penalty Decision and Administrative Penalty Prior Notice" (Announcement No.: 2025-002). In accordance with Article 9.4, Paragraph (VII) of the "Shenzhen Stock Exchange ChiNext Stock Listing Rules," the Company's stock trading has been subject to other risk warnings since January 13, 2025.
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On June 27, 2025, the Company received the "Administrative Penalty Decision" (No. [2025] 6) issued by the Shenzhen CSRC. The facts determined in the "Administrative Penalty Decision" are consistent with the illegal and non-compliant acts involved in the "Administrative Penalty Prior Notice." The Company's current illegal and non-compliant acts do not constitute a situation of mandatory delisting due to major violations as stipulated in Chapter Ten, Section Five of the "Shenzhen Stock Exchange ChiNext Stock Listing Rules."
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In accordance with Article 9.9 of the "Shenzhen Stock Exchange ChiNext Stock Listing Rules," during the period when the Company's stock trading is subject to other risk warnings due to the circumstances stipulated in Article 9.4, Paragraph (VII), the Company shall disclose a progress announcement on error correction at least once a month until the announcement of the financial report correction related to the matters involved in the administrative penalty decision and the special verification opinion issued by the accounting firm.