300392SZSE

Announcement on Major Litigation Involving the Company and Its Actual Controller

Tengxin Holdings··4 pages

✨ AI Summary

This announcement informs investors about a significant lawsuit involving Beijing Tengxin Innovation Network Marketing Technology Co., Ltd. and its actual controller. The company is currently a defendant in a case with a claimed amount of approximately RMB 90.6 million. As of now, the case is in the first instance stage, and no judgment has been made, leaving the potential impact on the company's profits uncertain.

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Full Translation

AI Translation· azure_openai

Special Risk Warning

  1. According to the audit report for the year 2022 issued by Zhongxinghua Certified Public Accountants (Special General Partnership), the audited net assets of Beijing Tengxin Innovation Network Marketing Technology Co., Ltd. at the end of 2022 were -644 million yuan. The financial report for 2022 received an audit opinion of "unable to express an opinion," which triggers the circumstances for termination of listing under Article 10.3.10 of the Shenzhen Stock Exchange's Listing Rules (2023 Revision). The company's stock has been suspended since May 4, 2023.
  2. The company has submitted a hearing application as required by the Shenzhen Stock Exchange. If the company fails to attend the hearing on time, it will be deemed to have waived its right to a hearing. If the company attends the hearing but the Shenzhen Stock Exchange still decides to terminate the listing, the company's stock will be delisted. Investors are advised to invest rationally and be aware of the delisting risk.

Important Content Reminder

  1. Current stage of the litigation (arbitration): First instance stage, no hearing or judgment has been held yet.
  2. Status of the listed company and actual controller: Defendant.
  3. Amount involved: Principal of 90.6 million yuan, plus funds occupation fees, litigation fees, etc.
  4. No judgment has been made yet, and the impact of this litigation on the company's current or future profits cannot be determined.

Basic Information on the Litigation

On December 26, 2018, the company signed the "Capital Increase Agreement of Beijing Ruibai Technology Co., Ltd." with Hao Jingtao, Qingdao Huilong Huaze Investment Co., Ltd., Beijing Ruibai Zhi Technology Development Center (Limited Partnership), Lhasa Yijie Enterprise Management Consulting Partnership (Limited Partnership), and all members of the board of directors of the company. The agreement stipulated that Qingdao Huilong Huaze Investment Co., Ltd. would increase its capital in Beijing Ruibai Technology Co., Ltd. by 60 million yuan. It was also agreed that if Beijing Ruibai Technology Co., Ltd. failed to meet performance targets or failed to pay interest on the loan on time, Qingdao Huilong Huaze Investment Co., Ltd. had the right to request the other parties to repurchase all their shares at a price of 60 million yuan plus funds occupation fees, with Beijing Ruibai Technology Co., Ltd. bearing joint guarantee responsibility for this payment obligation. Recently, the company received a notice of response to the lawsuit from the Intermediate People's Court of Qingdao, Shandong Province.

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