600654: China Security Co.Ltd(600654) announcement on the progress of bankruptcy reorganization and risk warning applied by creditors

Securities code: 600654 securities abbreviation: St Zhongan Announcement No.: 2022-018 bond Code: 136821 bond abbreviation: 16 Zhongan consumer

China Security Co.Ltd(600654)

Announcement on the progress of bankruptcy reorganization and risk warning applied for by creditors

The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents. On December 23, 2021, China Security Co.Ltd(600654) (hereinafter referred to as "the company") received the reorganization application notice from the creditor Shenzhen Yide private equity securities investment fund management Co., Ltd. (formerly known as Shenzhen Yide Investment Consulting Co., Ltd., hereinafter referred to as "the applicant"). The applicant said that because the company was unable to pay off its due debts and obviously lacked solvency, It submitted to Wuhan intermediate people's Court of Hubei Province for bankruptcy reorganization of the company (see announcement: 2021-051 for details).

The progress of the company's reorganization is hereby announced as follows:

1、 Progress

Up to now, the company has not received the ruling of the court on the applicant's application for company reorganization. There are still major uncertainties whether the applicant's application for company reorganization will be accepted by the court and whether the company will enter the reorganization procedure.

2、 Relevant risk tips

(I) there is a risk that the creditor's reorganization application will not be accepted by the court

According to the notice of the Supreme People's Court on printing and distributing the minutes of the Symposium on the trial of bankruptcy and reorganization cases of listed companies, if the applicant applies for bankruptcy and reorganization of listed companies, in addition to submitting the materials specified in Article 8 of the enterprise bankruptcy law, It is also necessary to submit the notification materials of the provincial people's Government of the place where the listed company is located to the securities regulatory department and the opinions of the securities regulatory department. Up to now, the company has not received the ruling of the court on the applicant's application for company reorganization. There are still major uncertainties whether the applicant's application for company reorganization will be accepted by the court and whether the company will enter the reorganization procedure. The company invites investors to invest rationally and pay attention to investment risks.

(II) the company has the risk of being declared bankrupt due to the failure of reorganization, resulting in the termination of listing

If the court formally accepts the above reorganization application, the company will be at risk of being declared bankrupt due to the failure of reorganization. If the company is declared bankrupt, the company will be subject to bankruptcy liquidation. According to article 9.4.13 of the stock listing rules of Shanghai Stock Exchange, the company's shares will face the risk of delisting. The company invites investors to invest rationally and pay attention to investment risks.

(III) there is a risk that the company's shares may be subject to delisting risk warning

According to the relevant provisions of article 9.4.1 of the Listing Rules of Shanghai Stock Exchange, if the court accepts the application for the above reorganization according to law, the company's shares will be subject to delisting risk warning. The company invites investors to invest rationally and pay attention to investment risks.

The company will continue to pay attention to the progress of reorganization and disclose relevant information in a timely manner. The information disclosure media designated by the company are Shanghai Securities News, securities times and the website of Shanghai Stock Exchange (www.sse. Com. CN), The information disclosed by the company shall be subject to the contents published in the above designated information disclosure media. Please pay attention to the company's announcement, make rational investment and pay attention to investment risks.

It is hereby announced.

China Security Co.Ltd(600654) board of directors

January 27, 2002

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