Securities code: Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078) securities abbreviation: ST Chengxing Announcement No.: pro 2022051 Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078)
Announcement on delaying the reply to the relevant inquiry letter of Shanghai Stock Exchange
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 contents and risk tips:
● on May 6, 2021, Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078) (hereinafter referred to as “Chengxing Co., Ltd.”, “the company” or “listed company”) was given a negative internal control audit report by Suya Jincheng Certified Public Accountants (special general partnership) (hereinafter referred to as “Suya Jincheng”) in 2020, And due to the failure to solve the problem of the occupation of funds by the controlling shareholders and their related parties, the company’s shares are 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.
● on November 9, 2021, the creditor of the company, Jiangyin building decoration products factory, filed an application for bankruptcy reorganization of the company with Wuxi intermediate people’s Court (hereinafter referred to as the “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, There are still major uncertainties whether the applicant’s application can be accepted by the court and whether the company enters 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). ● on December 7, 2021, the company and Chengxing group received the notice of filing a case from the China Securities Regulatory Commission (hereinafter referred to as the “CSRC”) on the same day. Due to the suspected violation of laws and regulations on information disclosure, the CSRC decided to punish the company and Chengxing group in accordance with the securities law of the people’s Republic of China, the administrative punishment law of the people’s Republic of China and other laws and regulations Chengxing group filed a case. Up to now, the company and Chengxing group are actively cooperating with the CSRC in filing the case.
● on February 8, 2022, Jiangyin regional headquarters economic Park Development and Investment Co., Ltd. (hereinafter referred to as “headquarters economic Park”) applied to Jiangyin court for reorganization of Chengxing group, the controlling shareholder of the company. On February 9, 2022, the company received a notification letter from Chengxing group, saying that the above reorganization application has been accepted by the court and Jiangsu mousheng law firm has been appointed as the manager of Chengxing group. Chengxing group entered the reorganization procedure, which may have an impact on the equity structure of the company. The company and Chengxing group remain independent in terms of business, personnel, assets, institutions and finance. Chengxing group’s entry into the reorganization process will not have an impact on the company’s daily production and operation. There is still uncertainty about the success of Chengxing group’s subsequent reorganization.
On December 16, 2021, January 28, 2022 and February 7, 2022, the company received the inquiry letter on matters related to the judicial auction of shares held by ST Chengxing shareholders issued by Shanghai Stock Exchange (szgh [2021] No. 2998) Inquiry letter on matters related to ST Chengxing performance forecast (shgh [2022] 0110) and inquiry letter on matters related to ST Chengxing financial data (shgh [2022] 0112). See the relevant announcement disclosed on the website of Shanghai stock exchange for details. After receiving the above inquiry letter, the company has actively organized relevant parties and intermediaries to implement the questions raised in the above inquiry letter one by one. Now, the company has replied to some questions in the inquiry letter on matters related to the judicial auction of shares held by ST Chengxing shareholders (shgh [2021] No. 2998). See the announcement for details (see p.2022050 for details).
The unanswered questions involved in the above three inquiry letters need to be further verified. The company will actively coordinate all parties to step up relevant work and strive to complete the reply as soon as possible. It is expected to reply and disclose to the Shanghai Stock Exchange before March 12, 2022.
The information disclosure media designated by the company are Shanghai Securities News and the website of Shanghai Stock Exchange (www.sse. Com. CN). All information of the company shall be subject to the information published in the above designated newspapers and websites. Please pay attention to the company’s announcement and pay attention to investment risks.
It is hereby announced.
Jiangsu Chengxing Phosph-Chemical Co.Ltd(600078) board of directors March 5, 2022
