Securities code: 600734 securities abbreviation: Fujian Start Group Co.Ltd(600734) Announcement No.: 2022-015 Fujian Start Group Co.Ltd(600734)
Announcement of abnormal fluctuations in stock trading
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.
Important content tips
● Fujian Start Group Co.Ltd(600734) (hereinafter referred to as “the company” or “Shida group”) shares fell by more than 15% from the daily closing price within three consecutive trading days on February 8, 2022, February 9, 2022 and February 10, 2022.
● the company has sent a written letter to Zhengzhou HANGGANG Xingchuang Electronic Technology Co., Ltd. (hereinafter referred to as Xingchuang Electronics), the controlling shareholder of the company, and conducted self-examination: as of the date of this announcement, there are no major matters that should be disclosed but not disclosed except those disclosed by the company.
● if the closing price on February 10, 2022 is 2.72 yuan / share, the ex right (interest) reference price of the company is about 1.19 yuan / share. Since the original shareholder has not obtained the converted shares, the share price of the company after ex rights will be greatly different from that before ex rights, and the ex rights of the company’s shares may lead to the loss of the market value of the original shareholder. The company invites investors to pay attention to the possible risks of the above matters, make rational investment judgment and pay attention to investment risks.
1、 Details of abnormal fluctuations in stock trading
Within three consecutive trading days (February 8, 2022, February 9, 2022 and February 10, 2022), the daily closing price of the company’s stock has fallen by more than 15%. According to the relevant provisions of the Listing Rules of Shanghai Stock Exchange (hereinafter referred to as the Listing Rules), it belongs to abnormal fluctuations in stock trading.
2、 Relevant information concerned and verified by the company
In view of the abnormal fluctuation of the company’s shares, the company checked the relevant matters and sent a written letter to Xingchuang electronic, the controlling shareholder of the company. The relevant information is described as follows:
(I) the daily operation of the company has not changed significantly recently.
(II) as of the date of this announcement, the company and the controlling shareholder Xingchuang electronics, except for the matters disclosed by the company, have no information on major matters that should be disclosed but not disclosed involving the company (including but not limited to major asset restructuring, issuance of shares, acquisition of listed companies, debt restructuring, business restructuring, asset divestiture, asset injection and other major matters).
(III) after verification by the company, the company has not found any media reports or market rumors that need to be clarified or responded that have an impact on the trading price of the company’s shares.
(IV) the company’s directors, supervisors, senior managers, controlling shareholders, actual controllers and persons acting in concert did not buy or sell the company’s shares during the above-mentioned abnormal fluctuations in stock trading.
3、 Risk tips
(I) risk warning of ex rights of the company’s shares
The court has ruled that the implementation of the company’s reorganization plan has been completed. The investors in this reorganization paid a total consideration of about 900 million yuan and transferred 1555930790 shares of Shida group, with an average consideration of about 0.578431 yuan per share.
According to the reorganization plan, based on the existing total share capital of 622372316 shares, the company implemented the conversion of capital reserve into share capital at the proportion of 25 shares per 10 shares, with a total of 1555930790 shares. (the exact number of shares to be converted and increased shall be subject to the actual number registered and confirmed by China Securities Depository and Clearing Co., Ltd. Shanghai Branch). After the conversion, the total share capital of Shida group increased from 622372316 shares to 2178303106 shares.
As the conversion of capital reserve to share capital is part of the adjustment of investors’ rights and interests in the reorganization procedure, it is different from the simple issuance of additional shares for the purpose of dividend in a general sense. According to Article 4.3.2 of the trading rules of Shanghai Stock Exchange (the second revision in 2020), the company adjusted the calculation formula of ex right reference price, and Shida group calculated the ex right reference price according to the following formula: “ex right (interest) reference price = [(previous closing price – cash dividend) + the price of shares converted from capital reserve transferred by restructuring investors × Proportion of changes in circulating shares caused by the transfer of capital reserve to shares by reorganization investors] ÷ (1 + proportion of changes in circulating shares caused by the transfer of capital reserve to shares by reorganization investors) “
If the closing price on February 10, 2022 is 2.72 yuan / share, the ex right (interest) reference price of the company is about 1.19 yuan / share. Since the original shareholder has not obtained the converted shares, the share price of the company after ex rights will be greatly different from that before ex rights, and the ex rights of the company’s shares may lead to the loss of the market value of the original shareholder.
The company invites investors to pay attention to the possible risks of the above matters, make rational investment judgment and pay attention to investment risks. (II) financial delisting situations that the company may touch
According to one of the circumstances stipulated in the rules of Shanghai Stock Exchange, if the listed company’s financial indicators of the year 2021 are triggered, the company’s listing will be terminated:
1. If the audited net assets of the company at the end of 2021 are still negative, the listing of the company’s shares will be terminated.
2. If the company’s 2021 financial and accounting report is issued with qualified opinions or negative opinions or audit reports that cannot express opinions, the listing of the company’s shares will be terminated.
4、 Board statement
The board of directors of the company confirms that the company currently has no material information that should be disclosed but has not been disclosed in accordance with the relevant provisions of the Listing Rules of Shanghai Stock Exchange; The board of directors has not been informed of the information that should be disclosed by the company in accordance with the Listing Rules of Shanghai Stock Exchange and other relevant provisions, which has a great impact on the trading price of the company’s shares. The information disclosure media designated by the company are China Securities News, securities daily and the website of Shanghai Stock Exchange (www.sse. Com. CN), All information of the company shall be subject to the information disclosed by the above designated media. Please invest rationally and pay attention to investment risks.
It is hereby announced.
Fujian Start Group Co.Ltd(600734) board of directors February 10, 2022
