Securities code: 000670 securities abbreviation: * ST Yingfang Announcement No.: 2022-014 Yingfang Microelectronics Co., Ltd
Announcement on outstanding losses reaching one third of the total paid in share capital
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.
Infotmic Co.Ltd(000670) (hereinafter referred to as "the company") held the 23rd Meeting of the 11th board of directors and the 21st Meeting of the 11th board of supervisors on February 14, 2022, deliberated and adopted the proposal on the company's outstanding losses reaching one third of the total paid in share capital. The proposal needs to be submitted to the general meeting of shareholders for deliberation. The specific situation is hereby announced as follows:
1、 Overview of the situation
As of December 31, 2021, the undistributed profit in the audited consolidated financial statements of the company was -611369096.01 yuan. Since the paid in capital of the company is 816627360 yuan, the amount of the company's outstanding losses exceeds one third of the total paid in capital. According to the company law, the articles of association and other relevant provisions, when the amount of the company's outstanding losses reaches one third of the total paid in share capital, it shall be submitted to the general meeting of shareholders for deliberation.
The company held the 23rd Meeting of the 11th board of directors and the 21st Meeting of the 11th board of supervisors on February 14, 2022, deliberated and adopted the proposal on the company's outstanding losses reaching one third of the total paid in share capital, which needs to be submitted to the general meeting of shareholders for deliberation.
2、 Main reasons for losses
The amount of the company's outstanding losses exceeded one-third of the total paid in share capital, mainly because the company continued to be filed for investigation by the China Securities Regulatory Commission from 2017 to 2018, and due to the arrest of the original actual controller of the company and other factors, the company's financing channels were limited and faced the dilemma of liquidity shortage, This has had a very adverse impact on the development of the company's businesses, resulting in significant losses in 2017 and 2018.
3、 Measures to be taken to cover losses
Since the change of the board of directors, the board of supervisors and the management of the company was completed in December 2019, the company has focused on combing all links of R & D, operation and sales of its main business, implemented measures such as cost control, cost reduction, quality and efficiency improvement, and quickly realized the normal operation of its main business. In 2020, the company completed major asset restructuring, restored its self "hematopoietic function" and turned losses into profits. In 2021, the company continued to maintain stable operation and achieved profitability.
At present, the company is promoting the implementation of major asset restructuring by issuing shares to purchase assets and raising supporting funds. If the implementation of this major asset restructuring is completed, the company's net asset scale and net profit level can be improved to a certain extent, and the company's profitability and core competitiveness will also be significantly enhanced.
4、 Documents for future reference
1. Resolutions of the 23rd Meeting of the 11th board of directors;
2. Resolution of the 21st Meeting of the 11th board of supervisors.
It is hereby announced.
Board of directors
February 15, 2022
