Securities code: 000566 securities abbreviation: Hainan Haiyao Co.Ltd(000566) Announcement No.: 2022-002 Hainan Haiyao Co.Ltd(000566)
Progress announcement on debt repayment
The board of directors and all directors of the company guarantee that the contents of the announcement are true, accurate and complete without false records, misleading statements or major omissions.
1、 Overview
(1) Overview of assignment of creditor’s rights and debt satisfaction
Hainan Haiyao Co.Ltd(000566) (hereinafter referred to as “the company” or ” Hainan Haiyao Co.Ltd(000566) “) deliberated and approved Hainan Haiyao Co.Ltd(000566) to transfer part of the creditor’s rights of receivables to Shenzhen Nanfang Tongzheng Investment Co., Ltd. (hereinafter referred to as “Nanfang Tongzheng”) at the seventh meeting of the 10th board of directors held on December 8, 2020 and the third extraordinary general meeting of 2020 held on December 25, 2020, Nanfang Tongzheng undertakes part of the company’s accounts receivable with the net value of principal and interest of creditor’s rights of 446362578.91 yuan (hereinafter referred to as “target creditor’s rights”). According to the agreement, Nanfang Tongzheng will transfer the target creditor’s rights and take 35% of the sales revenue of the project (located in Haiyao garden, dongmenling section, Laocheng Economic Development Zone, Chengmai County, Hainan Province) under development by its wholly-owned subsidiary Hainan Haiyao Co.Ltd(000566) Real Estate Development Co., Ltd. (hereinafter referred to as “Haiyao real estate”) as the consideration for the transfer of the target creditor’s rights in the next three years, and the insufficient part will be supplemented by Nanfang Tongzheng. According to the payment schedule requirements of the agreement: Haiyao real estate shall pay no less than 120 million yuan in total before December 31, 2021. For details, please refer to the company’s disclosure on cninfo.com on December 10, 2020, December 23 and February 10, 2021（ http://www.cn.info.com..cn. ）Announcement on signing creditor’s right transfer and debt repayment agreement and related party transactions and other relevant announcements.
(2) Overview of termination
The company held the 12th meeting of the 10th board of directors on April 14, 2021, deliberated and adopted the proposal on termination of agreement and related party transactions, requiring Haiyao real estate to return the purchase price of 230.45 million yuan in total. According to the agreed payment plan, within three years, 15% of the overall sales revenue of Haiyao garden project of Haiyao real estate will be transferred to the company to pay the principal, liquidated damages and interest of some properties purchased by Haiyao real estate to the company. For the insufficient part in each year, Haiyao real estate is obliged to make up the difference in cash. According to the payment schedule requirements of the agreement, the payment of Haiyao real estate shall not be less than 30 million yuan before December 31, 2021.
For details, please refer to the company’s disclosure on cninfo.com on April 15, 2021（ http://www.cn.info.com..cn. ）Announcement on termination of agreement and related party transactions.
2、 Progress
According to the feedback of Haiyao real estate, due to policy regulation, epidemic impact and other reasons, the house sales were less than expected and the repayment was not made on time. As of December 31, 2021, the above two items of Haiyao real estate should pay the company no less than RMB 150 million, the company has received the payment of Haiyao real estate of RMB 18 million, and Nanfang Tongzheng failed to make up the consideration difference of the debt transfer payment payable in 2021 as agreed.
3、 Measures taken by the company
The company is actively negotiating with the other party to offset the accounts payable in 2021 with other assets, and has sent staff to supervise the sales of Haiyao real estate to ensure timely payment collection. The company will continue to pay attention to the operation of Haiyao real estate, continue to take all measures to actively recover, and will recover through legal means when necessary, so as to safeguard the legitimate rights and interests of the company and shareholders.
4、 Impact on the company
At present, it is not possible to judge the specific amount of impact of this event on the company’s current or future profits. The company will conduct accounting treatment according to the subsequent progress and the provisions of the accounting standards for business enterprises. At present, the company’s production and operation are normal, and the above matters will not have an adverse impact on its daily operation. As for the progress of this matter, the company will timely perform the obligation of information disclosure as required. Please pay attention to the investment risks.
It is hereby announced.
Hainan Haiyao Co.Ltd(000566)
Board of directors
January 5, 2002
