Securities code: 300256 securities abbreviation: Jiangxi Firstar Panel Technology Co.Ltd(300256) Announcement No.: 2022-015 Jiangxi Firstar Panel Technology Co.Ltd(300256)
Announcement on the convening of the first creditors’ meeting of the company’s pre reorganization
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
Jiangxi Firstar Panel Technology Co.Ltd(300256) (hereinafter referred to as “the company” or “Star Technology”) disclosed the announcement on receiving the notice of convening the first creditors’ meeting in the pre reorganization stage (Announcement No.: 2022-003) on cninfo.com on January 14, 2022. The temporary manager plans to convene the first creditors’ meeting in the pre reorganization stage of Star Technology at 10:00 a.m. on January 29, 2022.
On February 9, 2022, the company received the convening and voting of the first creditors’ meeting of Jiangxi Firstar Panel Technology Co.Ltd(300256) pre reorganization sent by the temporary manager. Now the convening of the first creditors’ meeting of pre reorganization is announced as follows:
1、 Convening and attendance of this creditors’ meeting
On January 29, 2022, the first creditors’ meeting of Star Technology pre reorganization was held in the workers’ cultural center of Pingxiang economic and Technological Development Zone, Jiangxi Province (online meeting was held simultaneously in “ICBC financial e-union – bankruptcy liquidation and reorganization management system” and wechat applet “bankruptcy liquidation system”).
The main agenda of this meeting is: 1 The temporary manager shall make the work report of the temporary manager in the Jiangxi Firstar Panel Technology Co.Ltd(300256) pre reorganization stage; 2. Creditors review and vote on the proposal on the members and scope of authorization of Jiangxi Firstar Panel Technology Co.Ltd(300256) creditor Committee; 3. The creditor checks the Jiangxi Firstar Panel Technology Co.Ltd(300256) claim form; 4. The creditor reviews the report on the situation of Jiangxi Firstar Panel Technology Co.Ltd(300256) pre reorganization mutual benefit debt; 5. Creditors deliberated and voted on the proposal on the written verification of creditor’s rights and written voting of Jiangxi Firstar Panel Technology Co.Ltd(300256) creditor’s meeting (special note: there are minor adjustments in the names of some topics based on the notice of the first creditor’s meeting of Jiangxi Xingxing Technology Co., Ltd. pre reorganization, and the names of topics actually deliberated and voted at the meeting shall prevail).
238 creditors and creditor agents attended the meeting, accounting for 94.44% of the total number of creditors with voting rights.
The non voting participants at the meeting include representatives of the temporary manager of Xingxing technology, the pre reorganization leader, Shanghai jintiancheng law firm, Xingxing technology, Xingxing technology employees, audit institutions and evaluation institutions. 2、 Voting at this creditors’ meeting
There are two voting matters in this creditors’ meeting, namely, the proposal on the members and scope of authorization of Jiangxi Firstar Panel Technology Co.Ltd(300256) creditors’ committee and the proposal on the written verification of creditor’s rights and written voting of Jiangxi Firstar Panel Technology Co.Ltd(300256) creditors’ meeting.
As of the voting deadline of this meeting (i.e. 24:00 on February 8, 2022), the voting of the first creditors’ meeting of Star Technology pre reorganization is as follows:
1. Voting item 1: proposal on Jiangxi Firstar Panel Technology Co.Ltd(300256) creditor committee members and scope of authorization
There are 222 affirmative votes and 5 negative votes. Failure to vote within the time limit is regarded as 11 affirmative votes, and the total number of affirmative votes of creditors is 233. The total affirmative votes of creditors accounted for 97.90% of the votes of creditors with voting rights attending the meeting, and the amount of creditor’s rights represented by them accounted for 87.78% of the total amount of unsecured creditor’s rights.
2. Voting item 2: proposal on Jiangxi Firstar Panel Technology Co.Ltd(300256) creditor’s meeting’s written verification of creditor’s rights and written voting
There are 219 affirmative votes and 8 negative votes. Failure to vote within the time limit is regarded as 11 affirmative votes, and the total number of affirmative votes of creditors is 230. The total affirmative votes of creditors accounted for 96.64% of the votes of creditors with voting rights attending the meeting, and the amount of creditor’s rights represented by them accounted for 80.88% of the total amount of unsecured creditor’s rights.
According to Article 64 of the enterprise bankruptcy law of the people’s Republic of China, the above two voting matters have been voted and adopted at this creditors’ meeting.
3、 Risk tips
1. The net assets of the Company attributable to the shareholders of the listed company in 2020 are negative after retroactive restatement. According to the provisions of item 2 of article 10.3.1 of the Listing Rules of gem shares of Shenzhen Stock Exchange (revised in December 2020), the delisting risk warning of the company’s stock trading was implemented by Shenzhen Stock Exchange on August 24, 2021.
If the 2021 annual report indicates that the company touches any of the circumstances in paragraph 1 of article 10.3.10, Shenzhen Stock Exchange will terminate the listing and trading of the company’s shares; If the audit results of 2021 show that the company does not have any of the circumstances specified in Items 1 to 4 of paragraph 1 of article 10.3.10, according to article 10.3.6 of Shenzhen Stock Exchange GEM Listing Rules (revised in December 2020), the company may apply to Shenzhen stock exchange for cancellation of delisting risk warning, There is a major uncertainty whether the company can obtain the approval to cancel the delisting risk warning. Please pay attention to the investment risk.
2. On August 23, 2021, the company disclosed the announcement on the court’s decision to start the pre reorganization of the company and appoint the temporary manager during the pre reorganization period on cninfo. Pingxiang HSBC Investment Co., Ltd., the creditor of the company, applied to Pingxiang intermediate people’s court for the reorganization of the company, and Pingxiang intermediate people’s court decided to start the pre reorganization of the company, And appoint the liquidation group as the temporary manager during the pre reorganization period of the company. The decision of Pingxiang intermediate people’s court to start the pre reorganization of the company does not mean that Pingxiang intermediate people’s court finally accepts the reorganization application of the company, nor does it mean that the company officially enters the reorganization procedure. As of the disclosure date of this announcement, the company has not received the ruling of the court on the creditor’s application for company reorganization. There are still major uncertainties whether the creditor’s application is accepted by the court and whether the company enters the reorganization procedure. Please pay attention to investment risks. If the court formally accepts the reorganization application of the company, the company will cooperate with the court and the manager to carry out relevant reorganization work according to law, and perform the legal obligations of the debtor according to law. At the same time, according to item 7 of article 10.4.1 of the GEM Listing Rules of Shenzhen Stock Exchange (revised in December 2020), Shenzhen Stock Exchange will implement delisting risk warning for the superposition of the company’s shares. If the company successfully implements the reorganization and completes the reorganization plan, it will help to improve the company’s asset liability structure and restore its sustainable operation and profitability. Please pay attention to investment risks. If the court decides to accept the reorganization application of the company, the company will also have the risk of being declared bankrupt due to the failure of reorganization. If the company is declared bankrupt, according to Item 6 of article 10.4.17 of Shenzhen Stock Exchange GEM Listing Rules (revised in December 2020), the company’s shares will face the risk of delisting. Please pay attention to investment risks.
3. The company received the notice of filing a case from the CSRC on September 29, 2021. The CSRC decided to file a case against the company because the company was suspected of violating laws and regulations in information disclosure. As of the disclosure date of this announcement, the investigation of the CSRC is still in progress.
According to the relevant provisions of the Shenzhen Stock Exchange GEM Listing Rules (revised in December 2020), if the company is subject to administrative punishment by the CSRC and is found to constitute a major Information Disclosure Violation, the company will touch the major Information Disclosure Violation specified in article 10.5.1 of the Shenzhen Stock Exchange GEM Listing Rules (revised in December 2020), There is a risk of forced delisting of the company’s shares. Please pay attention to investment risks.
4. The information disclosure media designated by the company are securities times, China Securities News, Shanghai Securities News, securities daily and cninfo（ http://www.cn.info.com.cn. ）, all information of the company shall be subject to the information disclosed in the above media. Please pay attention to investment risks.
4、 Document for future reference 1. Convening and voting of the first creditor’s rights meeting of Jiangxi Firstar Panel Technology Co.Ltd(300256) pre reorganization. It is hereby announced.
Jiangxi Firstar Panel Technology Co.Ltd(300256) board of directors
February 10, 2022
