Securities code: Shandong Xinchao Energy Corporation Limited(600777) securities abbreviation: Shandong Xinchao Energy Corporation Limited(600777) Announcement No.: 2022009 Shandong Xinchao Energy Corporation Limited(600777)
Announcement on the progress of the company's litigation and the warning that the company's shares do not touch other risks
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 Shandong Xinchao Energy Corporation Limited(600777) (hereinafter referred to as "the company") disclosed the progress announcement of Shandong Xinchao Energy Corporation Limited(600777) involving litigation (Announcement No.: 2022003) on February 8, 2022. Based on the judgment of the first instance, the company shall bear relevant liability for compensation. In order to protect the rights and interests of investors, the company successively disclosed the suggestive announcement on the possible implementation of other risk warnings for the company's suspected illegal guaranteed shares (Announcement No.: 2022005) The second suggestive announcement on the possible implementation of other risk warnings for the company's suspected illegal guaranteed shares (Announcement No.: 2022008).
The Guangzhou intermediate people's Court issued a civil judgment ((2020) Yue 01 min Chu No. 2011), which found that Guangzhou rural commercial bank failed to provide any resolution documents of Shandong Xinchao Energy Corporation Limited(600777) and the other two companies to prove that the relevant guarantee matters had gone through the resolution procedures. Therefore, it can be determined that the three difference replenishment agreements involved in the case were signed by the legal representatives of the three listed companies beyond their legal authority, The failure of Guangzhou rural commercial bank to fulfill its review obligations does not constitute goodwill, and the corresponding balance supplement agreement shall be invalid in accordance with relevant regulations. However, according to Article 7 of the interpretation of the Supreme People's Court on Several Issues concerning the application of the guarantee law of the people's Republic of China, Guangzhou rural commercial bank failed to fulfill its review obligations, and Shandong Xinchao Energy Corporation Limited(600777) and the other two companies were at fault for the selection of legal representatives and the mismanagement of official seals, and should bear part of the responsibility. Guangzhou intermediate people's court ruled that Shandong Xinchao Energy Corporation Limited(600777) and the other two companies were liable for compensation for half of the debts involved in the case that Huaxiang (Beijing) Investment Co., Ltd. could not pay off within the range of 158566666667 yuan respectively, and were liable for part of the litigation costs within the range of 7978551 yuan respectively.
After further verification and demonstration by the board of directors of the company, the court of first instance found that the difference supplement agreement involved in the case was invalid, and the liability that the company should bear identified in the civil judgment was not caused by the guarantee legal relationship. The company only bears the liability for fault compensation for the selection of legal representative and poor management of official seal. Therefore, the above circumstances do not belong to the circumstances that trigger other risk warnings specified in article 9.8.1 of the Listing Rules of Shanghai Stock Exchange (revised in January 2022), which should be paid attention to by investors.
The company believes that there are errors in the determination of facts and the application of law in the first instance judgment, and has filed an appeal within the statutory time limit in accordance with relevant regulations. As the judgment of first instance in this case has not yet taken effect, it will not bear the corresponding liability for compensation for the time being. If the second instance decides that the company shall bear the corresponding guarantee liability, the company's shares will be disposed of in accordance with the relevant provisions of the stock listing rules of Shanghai Stock Exchange. The suggestive announcement issued by the company in the early stage is the Risk Reminder disclosed by the company for the sake of prudence in order to protect the rights and interests of investors according to relevant regulations. Please understand the incompleteness. The information disclosure media designated by the company are Shanghai Securities News, China Securities News, securities times, Securities Daily, economic information daily and the website of Shanghai Stock Exchange (www.sse. Com. CN), The information about the company is subject to the information disclosed by the company in the above designated media. Please pay attention to the company's announcement and pay attention to the investment risk.
It is hereby announced.
Shandong Xinchao Energy Corporation Limited(600777)
Board of directors
March 8, 2022
