Guangdong Hongda Blasting Co.Ltd(002683) : Announcement on termination of major asset restructuring and resumption of trading of the company’s shares

Securities code: 002683 securities abbreviation: Guangdong Hongda Blasting Co.Ltd(002683) Announcement No.: 2021-080 Guangdong Hongda Blasting Co.Ltd(002683)

Announcement on the proposed termination of major asset restructuring and the resumption of trading of the company’s shares

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. Special tips:

Guangdong Hongda Blasting Co.Ltd(002683) it is proposed to terminate the issuance of shares and pay cash to purchase 100% equity of Inner Mongolia Shengli civil explosive Co., Ltd. Please pay attention to investment risks.

The trading of the company’s shares will resume from the opening of the market on Tuesday, January 4, 2022.

1、 Basic information of the company’s suspension

Guangdong Hongda Blasting Co.Ltd(002683) (hereinafter referred to as “the company” or ” Guangdong Hongda Blasting Co.Ltd(002683) “) is planning to issue shares and pay cash to purchase 100% equity of Shengli civil explosion jointly held by all shareholders of Inner Mongolia Shengli civil explosion Co., Ltd. (hereinafter referred to as “Shengli civil explosion”). According to the preliminary calculation, the amount involved in this transaction is expected to reach the standard of major asset restructuring. Due to the uncertainty of relevant matters, in order to protect the interests of investors and avoid significant impact on the company’s share price, according to the relevant regulations of Shenzhen Stock Exchange, the trading of the company’s shares (Securities abbreviation: Guangdong Hongda Blasting Co.Ltd(002683) , securities code: 002683) has been suspended since the opening of the market on December 20, 2021, and the suspension is expected to be no more than 10 trading days. For details, please refer to the company’s website on December 20, 2021( http://www.cn.info.com..cn. )Announcement on suspension of planning for major asset restructuring (Announcement No.: 2021-067) disclosed on the. 2、 Main work done during the planning of major asset restructuring

After the suspension, the company and relevant parties are actively promoting the relevant work of this major asset restructuring, and relevant parties are communicating, negotiating and demonstrating this transaction plan.

3、 Reasons for terminating this major asset restructuring

On December 31, 2021, the company held the 10th meeting of the Fifth Board of directors in 2021 to consider the proposal on terminating major asset restructuring. Because the company failed to reach an agreement with relevant parties on key terms on this plan, the company is expected to fail to form a restructuring plan before resumption of trading. Therefore, the company decided to terminate this major asset restructuring after full discussion with relevant parties.

4、 Impact of termination of planning on the company

The issue of shares to purchase assets is still in the planning stage, and the trading parties have not finally reached a formal agreement on the specific scheme. The termination of the issue of shares to purchase assets does not constitute a breach of contract by either party. The company and the trading parties have no breach of contract under the restructuring intention agreement, and the parties will not bear liability for breach of contract after termination. At present, the company’s business operations are normal, and the termination of this major asset restructuring will not have a significant adverse impact on the company’s operating performance and financial status.

5、 Commitments

According to the measures for the administration of major asset restructuring of listed companies and other relevant provisions, the company promises not to plan major asset restructuring within at least one month from the date of stock resumption.

6、 Stock resumption arrangement

Upon application to Shenzhen Stock Exchange, the trading of the company’s shares will resume from the opening of the market on Tuesday, January 4, 2022.

7、 Other

The information disclosure media designated by the company are China Securities News, Shanghai Securities News, securities times, securities daily and cninfo (www.cn. Info. Com.. CN.). All information of the company shall be subject to those published in the above designated media.

The Company Apologizes for the inconvenience caused by the termination of this major asset restructuring to the majority of investors, and expresses heartfelt thanks to all investors who have paid attention to the development of the company for a long time. Please pay attention to the follow-up announcement and pay attention to the investment risk.

It is hereby announced.

Guangdong Hongda Blasting Co.Ltd(002683) board of directors December 31, 2021

 

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