Securities code: 002501 securities abbreviation: * ST Liyuan Announcement No.: 2022-010 Jilin Liyuan Precision Manufacturing Co.Ltd(002501)
On the restructuring progress of Shenyang Liyuan Rail Transit Equipment Co., Ltd
Voluntary information disclosure announcement
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.
1、 Basic information of bankruptcy reorganization of Shenyang Liyuan
1. Creditors apply for reorganization
On November 8, 2019, Liaoyuan Xingye Construction Engineering Co., Ltd. applied to Shenyang intermediate people's court for bankruptcy reorganization of Shenyang Liyuan on the grounds that Shenyang Liyuan Rail Transit Equipment Co., Ltd. (hereinafter referred to as "Shenyang Liyuan") was "unable to pay off its due debts and obviously lacked solvency". For details, please refer to the company's website (www.cn. Info. Com. CN.) Suggestive announcement on the application for reorganization of holding subsidiaries (Announcement No.: 2019-070).
2. Shenyang intermediate people's court ruled on reorganization
On November 14, 2019, Shenyang Liyuan was ruled by Shenyang intermediate people's court to enter the bankruptcy reorganization procedure. For details, please refer to the company's website (www.cn. Info. Com. CN.) Announcement on the court's ruling to accept the reorganization of Shenyang Liyuan Rail Transit Equipment Co., Ltd., a wholly-owned subsidiary (Announcement No.: 2019-072).
3. The designated manager of Shenyang intermediate people's court and Shenyang Liyuan are no longer included in the scope of the company's consolidated financial statements
On November 29, 2019, Shenyang intermediate people's court appointed Beijing Weiheng law firm and Lianda Certified Public Accountants (special general partnership) as the bankruptcy reorganization administrator of Shenyang Liyuan (hereinafter referred to as "Shenyang Liyuan administrator"). The manager of Shenyang Liyuan has entered the site of Shenyang Liyuan and carried out relevant work. On December 4, 2019, he completed the handover of official seals, seals, licenses and other materials of Shenyang Liyuan, and took over the management right of various assets and businesses. The company no longer controls Shenyang Liyuan. According to the accounting standards for business enterprises, Shenyang Liyuan is no longer included in the scope of the company's consolidated financial statements. For details, please refer to the company's website (www.cn. Info. Com. CN.) The announcement on the court's appointment of the bankruptcy reorganization administrator of the wholly-owned subsidiary Shenyang Liyuan Rail Transit Equipment Co., Ltd. (Announcement No.: 2019-076) and the announcement on the reply to the letter of concern of Shenzhen Stock Exchange (Announcement No.: 2020-008) disclosed.
On December 2, 2019, Shenyang intermediate people's Court issued the announcement, which said that Shenyang Liyuan creditors should declare their creditor's rights to Shenyang Liyuan manager before February 28, 2020. For details, please refer to the company's website (www.cn. Info. Com. CN.) Announcement on the restructuring progress of the wholly-owned subsidiary Shenyang Liyuan Rail Transit Equipment Co., Ltd. (Announcement No.: 2019-077).
2、 Progress of bankruptcy reorganization of Shenyang Liyuan
On August 3, 2020, Shenyang intermediate people's court held the first creditors' meeting of Shenyang Liyuan. For details, please refer to the company's website on July 24, 2020 (www.cn. Info. Com. CN.) Announcement on reply to inquiry letter of Shenzhen Stock Exchange (Announcement No.: 2020-077).
On November 29, 2020, the bankruptcy reorganization administrator of Shenyang Liyuan announced on the national enterprise bankruptcy reorganization case information network that with the consent of Shenyang intermediate people's court, the second creditors' meeting of Shenyang Liyuan will be held on December 14, 2020. According to the company, Shenyang Liyuan restructuring plan was not voted on the spot on December 14, 2020. For details, please refer to the company's website (www.cn. Info. Com. CN.) The disclosed announcement of the Jilin Liyuan Precision Manufacturing Co.Ltd(002501) manager on the progress of reorganization (Announcement No.: 2020-104) and the announcement on the reply to the letter of concern of Shenzhen Stock Exchange (Announcement No.: 2020-115).
According to the understanding of the company, Shenyang Liyuan recently voted for the second meeting of creditors. Recently, the voting result released by Shenyang Liyuan manager showed that the voting result of the draft reorganization plan was not passed.
As of the date of this report, Shenyang Liyuan bankruptcy reorganization is still in progress.
3、 Influence of Shenyang Liyuan bankruptcy reorganization progress on the company
1. On November 29, 2019, Shenyang intermediate people's court appointed Beijing Weiheng law firm and Lianda Certified Public Accountants (special general partnership) as the manager of Shenyang Liyuan. The manager of Shenyang Liyuan has entered the site of Shenyang Liyuan and carried out relevant work. On December 4, 2019, he completed the handover of official seals, seals, licenses and other materials of Shenyang Liyuan, and took over the management right of various assets and businesses. The company no longer controls Shenyang Liyuan. According to the accounting standards for business enterprises, Shenyang Liyuan is no longer included in the scope of the company's consolidated financial statements. For details, please refer to the company's website (www.cn. Info. Com. CN.) Announcement on the court's appointment of the bankruptcy reorganization administrator of Shenyang Liyuan Rail Transit Equipment Co., Ltd., a wholly-owned subsidiary (Announcement No.: 2019-076).
2. The company's equity investment in Shenyang Liyuan has made full provision for impairment. For details, please refer to the company's website (www.cn. Info. Com. CN.) Announcement on reply to inquiry letter of Shenzhen Stock Exchange (Announcement No.: 2020-077).
3. As of the issuance date of this report, the amount owed by Shenyang Liyuan in other receivables of the company is 61 million yuan. The reasons for the formation of the amount are: (1) the balance of current funds between Liaoyuan Liyuan Decoration Engineering Co., Ltd., a wholly-owned subsidiary of the company, and Shenyang Liyuan is 11 million yuan; (2) The balance of current funds between Liaoyuan Liyuan Construction Machinery Co., Ltd., a wholly-owned subsidiary of the company, and Shenyang Liyuan is 50 million yuan. The above subsidiaries have declared their creditor's rights to Shenyang Liyuan manager respectively and the creditor's rights have been confirmed by Shenyang Liyuan manager. The above subsidiaries have withdrawn 90% bad debt reserves respectively. For details, please refer to the company's website (www.cn. Info. Com. CN.) Announcement on reply to inquiry letter of Shenzhen Stock Exchange (Announcement No.: 2021-046).
To sum up, the progress of Shenyang Liyuan bankruptcy reorganization will not have a significant impact on the company.
It is hereby announced.
Jilin Liyuan Precision Manufacturing Co.Ltd(002501) board of directors February 26, 2022
