Securities code: 603029 securities abbreviation: Shandong Swan Cotton Industrial Machinery Stock Co.Ltd(603029) Announcement No.: pro 2022-007
Shandong Swan Cotton Industrial Machinery Stock Co.Ltd(603029)
Stock trading risk warning announcement
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:
The stock price of the company has increased significantly recently. After the company's self inspection and verification with the controlling shareholder and actual controller, there are no major matters that should be disclosed but not disclosed.
Risk of patent litigation: in the early stage, the company received the notice of response and summons served by the court. The products of Sanxing and Liuxing packing cotton pickers produced by the company are suspected of infringing an invention patent of Deere company. The revenue of the products involved in the case accounted for about 25% - 35% of the company's annual operating revenue in 2021. The above-mentioned cases have not been heard in court, the litigation results cannot be determined temporarily, and the impact on the operation of the company is uncertain.
Risk of recovery of equity transfer funds: in the transfer of the company, there is still 50.172 million yuan of equity transfer funds of softcom that have not been recovered within the time limit, which may have an adverse impact on the company's operating performance in 2022. Secondary market trading risk: the company's stock price rose for three consecutive trading days from February 14 to February 16, 2022, with a cumulative increase of 30.04%. As of the disclosure date of this announcement, the company's daily operation and external environment have not changed significantly, which reminds investors to invest rationally and pay attention to investment risks.
The stock price of Shandong Swan Cotton Industrial Machinery Stock Co.Ltd(603029) (hereinafter referred to as "the company") has increased significantly recently. The company disclosed the announcement on abnormal fluctuation of stock trading (Announcement No.: P 2022-006) on February 16, 2022, and the company's stock continued to rise by the limit on February 16, 2022. Through self-examination and verification with the controlling shareholders, as of the disclosure date of this announcement, the company's daily operation and external environment have not changed significantly, and there is no major information that should be disclosed but not disclosed. The relevant matters and risks are explained as follows. Please invest rationally and pay attention to investment risks.
1、 Relevant risk tips
1. Patent litigation risk
On January 5, 2022, the company received the (2021) Xin 01 Zhi min Chu No. 55 notice of response, summons and other relevant documents delivered by Urumqi intermediate people's court by express delivery. Deere company of the United States filed a lawsuit against the company and its subsidiary modern agricultural clothing on the ground that the products of Sanxing and Liuxing packing cotton pickers produced by the company infringed its zl200410085674.2 invention patent.
The parts involved in the alleged infringing technology are mainly used for the three row and six row packing cotton picker products newly produced by the company in 2021. According to the estimation of the company's financial department, the revenue of the above products in 2021 accounts for about 25% - 35% of the company's annual operating revenue in 2021. As of the disclosure date of this announcement, the above-mentioned cases have not been heard, the litigation results cannot be determined temporarily, and the impact on the operation of the company is uncertain.
2. Risk of recovery of equity transfer funds of Wuhan zhongsoftong Technology Co., Ltd
On October 29, 2020, the company signed the equity repurchase agreement on Wuhan zhongsoftong Technology Co., Ltd. with Wang Xiaowei. Wang Xiaowei repurchased 51% equity of Wuhan zhongsoftong Technology Co., Ltd. held by the company at the price of 174147300 yuan, and agreed that Wang Xiaowei would pay in four installments. As of the disclosure date of this announcement, the above transfer funds have expired according to the agreement. Wang Xiaowei has paid the transfer funds of 123.9764 million yuan and has not paid the transfer funds of 50.172 million yuan.
If Wang Xiaowei fails to fulfill his subsequent payment obligations and major adverse circumstances occur to the main collateral, there will be a risk that the remaining transfer money will not be recovered. The company conducts impairment test based on comprehensive factors such as the recovery of transfer money and the value of collateral, and withdraws bad debt reserves accordingly, which may have an adverse impact on the company's operating performance in 2022. 3. Secondary market transaction risk
The company's shares rose for three consecutive trading days from February 14 to February 16, 2022, and the stock price rose by 30.04%. As of February 16, 2022, according to the latest P / E ratio data released on the official website of China Securities Index Co., Ltd., the average static P / E ratio of C35 special equipment manufacturing industry of the Securities Regulatory Commission of the company in the latest month was 37.96 times. The latest static P / E ratio of the company is 131.87 times, which is significantly higher than the industry average. Please pay attention to the investment risk.
2、 Board statement
The board of directors of the company confirms that as of the disclosure date of this announcement, the company has not disclosed any matters that should be disclosed but not disclosed in accordance with the relevant provisions of the stock listing rules of Shanghai Stock Exchange or the planning, negotiation, intention and agreement related to such matters, and the board of directors has not been fully disclosed but not disclosed in accordance with the relevant provisions of the stock listing rules of Shanghai Stock Exchange Information that may have a great impact on the trading price of the company's shares and their derivatives; The information disclosed by the company in the early stage does not need to be corrected or supplemented.
The company solemnly reminds investors that relevant company information can be found on the website of Shanghai Stock Exchange (www.sse. Com. CN.) And the announcements published in the designated information disclosure media China Securities News, Shanghai Securities News, securities times and Securities Daily shall prevail. Please invest rationally and pay attention to investment risks.
It is hereby announced.
Shandong Swan Cotton Industrial Machinery Stock Co.Ltd(603029) board of directors February 17, 2022
