Securities code: 600518 securities abbreviation: * ST Kangmei No.: lin2021-116 bond Code: 122354 bond abbreviation: 15 Kangmei bond
Bond Code: 143730 bond abbreviation: 18 Kangmei 01
Bond Code: 143842 bond abbreviation: 18 Kangmei 04
Preferred stock code: 360006 preferred stock abbreviation: kangmeiyou 1
Kangmei Pharmaceutical Co.Ltd(600518)
Announcement on the completion of the implementation of the reorganization plan
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 content tips:
On December 29, 2021, Jieyang intermediate people’s Court (hereinafter referred to as the “court”) made a civil ruling (2021) Yue 52 Po No. 1-4, which ruled that the implementation of the Kangmei Pharmaceutical Co.Ltd(600518) reorganization plan (hereinafter referred to as the “reorganization plan”) has been completed.
Kangmei Pharmaceutical Co.Ltd(600518) (hereinafter referred to as “Kangmei pharmaceutical” or “the company”) recently received the court’s (2021) Yue 52 Po No. 1-4 civil ruling, which ruled that the reorganization plan has been implemented. The details are as follows:
1、 Overview of company reorganization
On June 4, 2021, the court ruled to accept the bankruptcy reorganization of the company and appointed the administrator on the same day. For details, see Kangmei Pharmaceutical Co.Ltd(600518) announcement on the court’s decision to accept the risk warning of company reorganization and continued delisting of shares (Announcement No.: pro 2021-048) and Kangmei Pharmaceutical Co.Ltd(600518) announcement on receiving the decision of the court to appoint an administrator (Announcement No.: pro 2021-049) disclosed by the company on June 5, 2021.
On November 15, 2021, the second creditors’ meeting and investors’ group meeting of the company were held. The property secured creditor’s rights group, ordinary creditor’s rights group and investors’ group voted and adopted the Kangmei Pharmaceutical Co.Ltd(600518) reorganization plan (Draft) and the corresponding investor’s rights and interests adjustment plan. See Kangmei Pharmaceutical Co.Ltd(600518) announcement on the voting results of the second creditors’ meeting (Announcement No.: p.2021-100) disclosed by the company on November 20, 2021 for details.
On November 26, 2021, the company received the civil ruling (2021) Yue 52 Po No. 1 served by the court, ruling to approve the reorganization plan and terminate the reorganization procedure of the company. For details, see the announcement of Kangmei pharmaceutical on the court’s decision to approve the company’s reorganization plan (Announcement No.: p.2021-103) disclosed by the company on November 27, 2021.
2、 Implementation of reorganization plan
During the implementation of the reorganization plan, the manager and the company actively promoted the implementation of the reorganization plan, as follows: 1 The cash repayment amount to be distributed to the creditor has been distributed, the undistributed cash has been deposited in the bank account of the manager due to the abnormal account of the creditor or the failure to provide an account, the stock has been transferred and transferred to minority shareholders, investors and creditors, due to the abnormal account of the creditor Or the shares that have not been transferred due to the failure to provide an account have also been deposited into the securities account of the manager;
2. On December 6, 2021, the company established Puning Kangtian Trading Co., Ltd. (hereinafter referred to as “Kangtian trading”) as a trust platform company to carry out the placement of underlying assets of the trust, with a registered capital of 1.82 billion yuan. The company and CCB Trust Co., Ltd. (hereinafter referred to as “CCB trust”) signed the trust contract and the equity transfer agreement on Puning Kangtian Trading Co., Ltd., and transferred 100% equity of Kangtian trading to CCB trust;
3. The bankruptcy expenses incurred have been paid at any time according to the actual situation.
On December 27, 2021, the company submitted a report on the implementation of the reorganization plan to the court. On the same day, the manager of the company submitted the supervision report on the implementation of the reorganization plan to the court, reported the relevant situation of the implementation of the supervision by the manager of the company, and requested the court to rule that the implementation of the reorganization plan was completed.
Recently, the company received the civil ruling (2021) Yue 52 Po No. 1-4 issued by the court, which ruled that the reorganization plan has been implemented.
3、 Main contents of civil ruling
The court held that: in view of the completion of the implementation of the reorganization plan and the completion of the reorganization work, Kangmei pharmaceutical applied to confirm that the completion of the implementation of its reorganization plan complies with the legal provisions, and in accordance with paragraph 1 of Article 89, Article 90 and paragraph 1 of Article 91 of the enterprise bankruptcy law of the people’s Republic of China, According to paragraph 11, paragraph 1, Article 154 of the Civil Procedure Law of the people’s Republic of China, the ruling is as follows:
1、 Confirm that the Kangmei Pharmaceutical Co.Ltd(600518) reorganization plan has been implemented;
2、 Terminate Kangmei Pharmaceutical Co.Ltd(600518) bankruptcy reorganization proceedings.
This ruling shall take effect from the date of making.
4、 Impact of reorganization on the company
By adjusting the rights and interests of investors in the reorganization process and introducing strong investors to provide financial support, the company has protected the legitimate rights and interests of all creditors to the greatest extent, resolved the company’s debt crisis and improved the company’s asset liability structure. After the implementation of the restructuring plan, with the resolution of the debt crisis and the support of investors, the company will gradually restore its sustainable operation ability and profitability, return to the benign development track, and will also have a positive impact on the company’s net assets and net profits in 2021. The specific financial data of the company in 2021 shall be subject to the audited financial statements.
5、 Risk tips
(i) The audited ending net assets of the company in 2020 are negative, and the financial and accounting report of the company in 2020 is issued, so it is impossible to express an opinion. If the audited net assets of the company in 2021 are still negative, or the financial and accounting report of the company in 2021 is issued by an accounting firm and cannot express opinions or negative opinions, the listing of the company’s shares will be terminated in accordance with article 13.1.1 of the stock listing rules of Shanghai Stock Exchange. （2） The implementation and completion of the company’s reorganization will help to improve the company’s asset liability structure and improve the company’s profitability. However, if the company’s subsequent operation and financial indicators do not meet the requirements of relevant regulatory regulations such as the stock listing rules, the company’s shares still have the risk of being delisted.
The information disclosure media designated by the company are China Securities News, Shanghai Securities News, securities times, securities daily and the website of Shanghai Stock Exchange (www.sse. Com.. CN.), All information of the company shall be subject to the information disclosed in the above designated media.
Please pay attention to the company’s announcement and pay attention to investment risks.
It is hereby announced.
Kangmei Pharmaceutical Co.Ltd(600518) board of directors
December 31, 2001
