Overview of Delisting Situation
Beijing Tengxin Innovation Network Marketing Technology Co., Ltd. (hereinafter referred to as "the Company") has been issued an audit report with no opinion by Zhongxinghua Certified Public Accountants (Special General Partnership) for the 2021 financial report, triggering the relevant provisions of Article 10.3.1 of the Shenzhen Stock Exchange's GEM Listing Rules. As a result, the Company's stock trading has been subject to a "delisting risk warning" since May 5, 2022. According to Article 10.3.10, if a listed company is subject to a delisting risk warning and subsequently meets any of the following conditions in the first accounting year, the exchange will decide to terminate its stock listing: (1) audited net profit is negative and operating income is below 100 million yuan, or the most recent accounting year’s net profit is negative and operating income is below 100 million yuan after retrospective restatement; (2) audited net assets at the end of the period are negative, or the most recent accounting year’s net assets at the end of the period are negative after retrospective restatement; (3) the financial report is issued with a qualified opinion, disclaimer of opinion, or adverse opinion. The Company’s 2022 financial report received an audit report with no opinion from Zhongxinghua, triggering the termination of listing under the third condition of Article 10.3.10. The Company’s stock will be delisted after the disclosure of the 2022 annual report.