Securities code: 000671 securities abbreviation: Yango Group Co.Ltd(000671) Announcement No.: 2022-026
Announcement on debts of overseas subsidiaries
The company and all members of the board of directors guarantee that the information disclosure is true, accurate and complete without false records, misleading statements or major omissions.
1、 Basic information
Yango Group Co.Ltd(000671) (hereinafter referred to as “the company”) has deliberated and adopted the proposal on the company’s bond financing at the 62nd meeting of the ninth board of directors and the seventh extraordinary general meeting of shareholders in 2019 The sixth extraordinary general meeting of shareholders in 2020 deliberated and approved the proposal on bond financing, agreed that the company should carry out bond financing at home and abroad, and authorized the management to handle other necessary matters related to bonds. The company has completed the overseas issuance of bonds (bond Code: xs2100664544, xs2203986927) through the overseas wholly-owned subsidiary Yango Group Co.Ltd(000671) Jiashi International Co., Ltd. (hereinafter referred to as “Jiashi international”), which has been listed on the Singapore Stock Exchange. (see announcement 2019-1042019-1072019-1182020-0562020-0612020-090 for details)
“Sunshi 9.25 04 / 15 / 23” (bond Code: xs2100664544) is issued in 2020
On January 15, 2014, the surviving amount was US $300 million, the issuing interest rate was 9.25%, and the maturity date was April 15, 2023. “Sunshi 7.5 04 / 15 / 24” (bond Code: xs2203986927) is issued on July 15, 2020, with a duration of US $357 million, an issue interest rate of 7.5%, an exercise date of October 15, 2022 and a maturity date of April 15, 2024.
Due to the superimposed impact of macroeconomic environment, industry environment and financing environment, the liquidity of the company is tense at different stages. As of the date of this announcement, the company failed to pay the interest of USD 1387500 on the overseas bond xs2100664544 and USD 13387500 on the overseas bond xs2203986927 within the 30 day exemption period (i.e. February 15, 2022).
2、 Impact on the company
The above matters may trigger the relevant provisions of domestic bonds and other products. The company will hold a bondholder meeting in accordance with relevant regulations and continuously evaluate the impact of the above matters on the company’s law, finance and operation. Meanwhile, the company is seeking legal advice on the above matters with a view to dealing with relevant matters in an appropriate manner. In addition, the company has also made continuous efforts to obtain funds through various ways to repay the arrears. The company will continue to pay attention to the progress of these matters and timely perform the obligation of information disclosure in accordance with the provisions of relevant laws and regulations.
It is hereby announced.
Yango Group Co.Ltd(000671) board of directors
February 18, 2002
