Securities code: 600078 securities abbreviation: Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078) Announcement No.: pro 2022-041 Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078)
Announcement on stock trading suspension verification
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. The stock of Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078) has increased significantly recently, and has touched abnormal fluctuations in stock trading for many times during this period. From January 28, 2022 to the closing on February 24, 2022, the company's shares have been up and down for 11 trading days, with a cumulative rise and fall of 70.18%. In view of the recent large fluctuation of the company's share price, which deviates from the company's fundamentals, the company checks the fluctuation of stock trading in order to safeguard the interests of investors.
Upon the application of the company, the trading of the company's shares (Securities abbreviation: * ST Chengxing; securities code: 600078) shall be suspended from the opening of the market on February 25, 2022, and the trading shall be resumed after the disclosure of the verification announcement. The company reminds investors to pay attention to the trading risks in the secondary market.
On December 7, 2021, the company received the notice of filing a case from the China Securities Regulatory Commission, and decided to file a case against the company and Chengxing group because the company and Chengxing group were suspected of illegal information disclosure. Up to now, the company and Chengxing group are actively cooperating with the CSRC in filing the case.
On November 9, 2021, Jiangyin construction and decoration products factory, the creditor of the company, filed an application for bankruptcy reorganization of the company with Wuxi intermediate people's Court on the ground that the company could not pay off its due debts and its assets were insufficient to pay off all debts. At present, the company has not received the ruling of the court on the applicant's application for company reorganization. Can the applicant's application be accepted by the court, There are still major uncertainties about whether the company will enter the bankruptcy reorganization procedure. If the court formally accepts the reorganization application of the company, the company will be at risk of being declared bankrupt due to the failure of reorganization. If the company is declared bankrupt, the listing of the company's shares will be terminated according to article 9.4.13 of the stock listing rules of Shanghai Stock Exchange (revised in January 2022).
Due to the negative internal control audit report issued by Suya Jincheng Certified Public Accountants (special general partnership) (hereinafter referred to as "Suya Jincheng") in 2020 and the failure to resolve the occupation of funds by controlling shareholders and their related parties, the company's shares were subject to other risk warnings; Secondly, the audited ending net assets of the company in 2020 were negative, and the financial and accounting report of 2020 was issued, which could not express opinions, and the delisting risk warning of the company's shares was implemented. In view of the fact that the company also triggered relevant provisions such as the Listing Rules of Shanghai Stock Exchange, the company's shares have been warned of delisting risk. According to article 9.3.11 of the Listing Rules of Shanghai Stock Exchange (revised in January 2022), if the company's 2021 annual report touches any of the delisting related indicators, the listing of the company's shares will be terminated.
The company disclosed the performance forecast on January 29, 2022, and the estimated net assets are 1310.4 million yuan to 1949.22 million yuan. However, the accountant of the company issued a special statement saying that according to the provisions of the accounting standards for business enterprises, The company reversed 72.50% of the bad debt reserves of accounts receivable from Jiangyin Chengxing Industrial Group Co., Ltd. (hereinafter referred to as "Chengxing group") and its related parties in 2021 based on the creditor's statement, resulting in the conversion of net assets to positive, which is not based on sufficient basis.
The company solemnly reminds investors to invest rationally and pay attention to investment risks. The information disclosure media designated by the company is Shanghai Securities News and the website of Shanghai Stock Exchange (www.sse. Com. CN.), Please pay attention to the subsequent relevant announcements and pay attention to the investment risks.
It is hereby announced.
Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078) board of directors February 25, 2022
