300392SZSE

Notice on Judicial Auction of Shares by Controlling Shareholder of Tengxin

Tengxin Holdings··3 pages

✨ AI Summary

This announcement informs investors that part of the shares held by Mr. Xu Wei, the controlling shareholder of Beijing Tengxin Innovation Network Marketing Technology Co., Ltd., will be auctioned judicially. Mr. Xu holds 98,464,016 shares, with 55,480,000 shares (14.45% of total shares) set for auction on June 26, 2023. The company warns of potential risks related to share ownership and governance changes.

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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," triggering conditions for stock delisting 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 but the Exchange still decides to delist, the stock will be delisted. Investors are advised to invest rationally and be aware of the delisting risk.

Beijing Tengxin Innovation Network Marketing Technology Co., Ltd. has recently learned through public channels that part of the shares held by Mr. Xu Wei will be subject to judicial auction. The details of the auction are as follows:

Basic Information on the Auction of Shares by the Controlling Shareholder

Mr. Xu Wei, the controlling shareholder and actual controller of the company, holds a total of 98,464,016 shares, accounting for 25.64% of the total share capital. As of now, 88,480,000 shares held by Mr. Xu have been pledged, representing 89.86% of his total shares and 23.04% of the company's total share capital.

  1. The basic situation of the shares to be auctioned is as follows:

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