Progress on Other Risk Warnings Implemented on Company Stock
- Progress on Violations of Guarantee Matters
As of the date of this announcement, there have been no changes regarding the company's violations of guarantee matters since the last announcement. Excluding the repurchase obligations jointly undertaken with Liu Guang, the company has identified that from April 2017 to March 2019, it provided external guarantees without proper approval for a total of 12 guarantees involving 8 companies, amounting to a principal of 1,505.68 million RMB, with an outstanding total of 803.59 million RMB (including 1.54 million RMB in interest). Currently, five of the lawsuits related to these violations have been concluded, while five remain unresolved, and one enforcement case is in suspension (the defendant is Suzhou Intelligent, with Dongfang Wangli as the defendant involved in the litigation). The remaining outstanding guarantees include a total of 503.24 million RMB guaranteed jointly with Liu Guang for other debtors and 300 million RMB for accounts receivable factoring financing provided jointly with Liu Guang.