300372SZSE

Announcement on the Progress of Work During the Suspension of Listing and Risk Warning for Stock Termination

Xintai Retreat Co., Ltd.··4 pages

✨ AI Summary

This announcement informs investors about the suspension of Dandong Xintai Electric Co., Ltd.'s stock listing due to fraudulent issuance. The stock entered a delisting period on July 17, 2017, with a trading limit of 10%. The company is facing operational difficulties and is unable to fulfill its share repurchase commitments. Investors are advised to be cautious and rational in their investments.

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Full Translation

AI Translation· azure_openai

Dandong Xintai Electric Co., Ltd. (hereinafter referred to as "the Company" or "Xintai Electric") and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, without false records, misleading statements, or significant omissions.

Special Reminder:

  1. The Company received a decision from the Shenzhen Stock Exchange on June 23, 2017, regarding the termination of its stock listing. Starting from July 17, 2017, the Company's stock trading entered a delisting arrangement period. On the next trading day after the delisting period ends, the Shenzhen Stock Exchange will delist the Company's stock. Investors are advised to pay attention to risks and invest rationally.
  2. According to relevant regulations of the Shenzhen Stock Exchange, there is no system for relisting on the Growth Enterprise Market, and fraudulent issuance has characteristics that cannot be corrected and whose impacts cannot be eliminated, thus not meeting the requirements for relisting. After the Company's stock is delisted, it cannot be relisted. Investors are advised to pay attention to risks and invest rationally.
  3. The Company is currently facing operational difficulties and financial constraints, making it challenging to implement share repurchases as committed in the prospectus for its initial public offering on the Growth Enterprise Market. Investors are advised to pay attention to risks and invest rationally.
  4. The net asset value per share disclosed by the Company is based on the financial statements and does not necessarily represent the amount investors can actually obtain in the future. Investors are advised to distinguish this and invest rationally.
  5. The main ways for investors to consult the Company are: (1) Investor interaction platform website: http://irm.p5w.net (2) Consultation phone: 0415-4139135

I. Explanation of the Termination of Stock Listing

Dandong Xintai Electric Co., Ltd. has been administratively punished by the China Securities Regulatory Commission (CSRC) for fraudulent issuance and has been legally transferred to the public security authorities. On September 2, 2016, the Company received the Shenzhen Stock Exchange's decision on the suspension of its stock listing (Shenzhen Stock Exchange [2016] No. 601). According to Article 13.1.1 of the "Shenzhen Stock Exchange Growth Enterprise Market Listing Rules (2014 Revision)" (hereinafter referred to as "Listing Rules"), the Shenzhen Stock Exchange decided to suspend the Company's stock listing starting from September 6, 2016. On June 23, 2017, the Shenzhen Stock Exchange decided to terminate the Company's stock listing. The Company received the Shenzhen Stock Exchange's decision on the termination of its stock listing (Shenzhen Stock Exchange [2017] No. 414). Starting from the next trading day after the fifteen trading days following the decision to terminate the stock listing (July 17, 2017), the Company's stock trading entered a delisting arrangement period. On the next trading day after the delisting period ends, the Shenzhen Stock Exchange will delist the Company's stock.

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