Securities code: 300410 securities abbreviation: Guangdong Zhengye Technology Co.Ltd(300410) Announcement No.: 2022-001 Guangdong Zhengye Technology Co.Ltd(300410)
Announcement on the progress and termination of shareholders’ litigation
The shareholder Suqian Chulian Technology Co., Ltd. guarantees that the information provided to the company is true, accurate and complete without false records, misleading statements or major omissions.
The company and all members of the board of directors guarantee that the contents of the announcement are consistent with the information provided by the information disclosure obligor.
On January 6, 2022, Guangdong Zhengye Technology Co.Ltd(300410) (hereinafter referred to as “the company” or ” Guangdong Zhengye Technology Co.Ltd(300410) “) received a notice from Suqian Chulian Technology Co., Ltd. (hereinafter referred to as “Chulian technology”, which was the former controlling shareholder of the company, and the matters involved in the first 2 of the name change were referred to as “Zhengye industry”), and it received the execution ruling issued by Dongguan intermediate people’s Court (hereinafter referred to as “Dongguan intermediate people’s court”). Zhengye industry triggered the breach clause in the stock pledge repurchase business of Minmetals Securities Co., Ltd. (hereinafter referred to as “Minmetals securities”) and signed the implementation settlement agreement on March 2, 2021. Because Zhengye industry failed to perform its repayment obligations as agreed, Dongguan intermediate people’s court resumed the implementation of the above cases and issued the implementation notice (2021) Yue 19 Zhi Hui No. 186. On July 27, 2021, Zhengye industry and the original actual controllers Xu Dihua and Xu Guofeng of the company reached a settlement agreement with Minmetals securities on the creditor’s rights and debts involved. Chulian technology has paid off the principal of all debts of RMB 230406437.01 in accordance with the settlement agreement, and the remaining debt interest and liquidated damages have fulfilled the repayment obligations in accordance with the settlement agreement. Dongguan intermediate people’s court believes that the settlement agreement reached between Minmetals securities and Chulian technology and relevant parties is the true intention of both parties and does not violate the mandatory provisions of the law. The ruling is as follows: terminate the execution of (2021) Yue 19 Zhihui No. 186 case.
1、 Basic information related to the early stage of this lawsuit
On August 14, 2020, the company received the notice from Zhengye industry that its stock pledge repo business in Minmetals securities triggered the default clause, and Minmetals securities applied to Dongguan intermediate people’s court for enforcement (enforcement notice [2020] Yue 19 Zhi No. 880), with an enforcement amount of about 272 million yuan.
On February 3, 2021, the company received a notice from Zhengye industry. In executing the above case, Dongguan intermediate people’s court decided that on November 25, 2021, the controlling shareholder of the company had been changed to Jingdezhen Hesheng Industry Investment Development Co., Ltd
2. Former name of Suqian Chulian Technology Co., Ltd.: Dongguan Zhengye Industrial Investment Co., Ltd
35085820 shares of the company held by Zhengye industry were publicly auctioned on Jingdong online judicial auction platform. On March 2, 2021, the company received a letter from Zhengye industry, which signed the implementation settlement agreement with Minmetals securities to reach a settlement on the creditor’s rights and debts involved in the judicial auction of shares. Dongguan intermediate people’s court terminated the judicial auction on March 2, 2021.
On July 7, 2021, the company received the notice from Zhengye industry. Because Zhengye industry failed to fulfill its repayment obligations as agreed, Dongguan intermediate people’s court has resumed the implementation of the above cases and issued the implementation notice (2021) Yue 19 Zhi Hui No. 186.
On July 27, 2021, Zhengye industry and the original actual controllers of the company, Xu Dihua and Xu Guofeng, reached a settlement agreement with Minmetals securities on the creditor’s rights and debts involved. Minmetals securities decided whether to apply to Dongguan intermediate people’s court for suspension of execution (2020) Yue 19 Zhi No. 880 case.
On October 18, 2021, the company received a letter from Chulian technology. According to the execution settlement agreement signed between Chulian technology and Minmetals securities and the closing application submitted by Minmetals securities to Dongguan intermediate people’s court, Dongguan intermediate people’s court ruled to terminate the execution of (2020) Yue 19 Zhi No. 880 case.
For details of this case, please refer to the relevant announcements published on cninfo.com on August 14, 2020, February 3, 2021, March 2, 2021, July 8, 2021, July 28, 2021 and October 19, 2021.
2、 Latest developments related to this lawsuit
On January 6, 2022, the company received the notification letter issued by Chulian technology and the execution ruling issued by Dongguan intermediate people’s Court ((2021) Yue 19 Zhi Hui No. 186 BIS), the main contents are as follows:
As Minmetals securities and Zhengye industry previously reached the implementation settlement agreement and submitted the application for settlement to Dongguan intermediate people’s court, Dongguan intermediate people’s court has ruled to terminate the implementation of (2020) Yue 19 Zhi No. 880 case. Later, because Zhengye industry failed to fulfill the repayment obligation agreed in the implementation settlement agreement, Minmetals securities applied to Dongguan intermediate people’s court for resumption of implementation, and Dongguan intermediate people’s court filed a case for implementation according to law, with the case number of (2021) Yue 19 Zhihui No. 186.
In the process of implementation, both parties reached a new settlement agreement. Chulian technology has paid off the principal of all debts of RMB 230406437.01 to Minmetals securities with the stock transfer price in accordance with the settlement agreement, and the remaining debt interest and liquidated damages shall fulfill the repayment obligations in accordance with the settlement agreement. The application for termination of execution submitted by Minmetals securities to Dongguan intermediate people’s Court on December 13, 2021 applied to Dongguan intermediate people’s court to terminate the execution of this case on the ground that both parties reached a settlement on the remaining debts.
Dongguan intermediate people’s court believes that the settlement agreement reached between Minmetals securities and Chulian technology and relevant parties is the true intention of both parties and does not violate the mandatory provisions of the law. In accordance with item (6) of article 257 of the Civil Procedure Law of the people’s Republic of China and the decision of the Supreme People’s Court on the application of
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According to the provisions of article 466 of the interpretation, the ruling is as follows: terminate the execution of (2021) Yue 19 Zhihui No. 186 case.
3、 Risk tips and other instructions
As of the disclosure date of this announcement, other litigation and arbitration involving Chulian technology are as follows:
1. Disputes over stock pledge repurchase business (Xinyue No. 2 directional asset management plan)
On October 16, 2020, Zhengye industry informed the company that its stock pledge repurchase business (Xinyue No. 2 directional asset management plan) of Minmetals securities triggered the default clause, and Minmetals securities submitted an arbitration application for a securities dispute with Zhengye industry to Shenzhen International Arbitration Court, involving an amount of about 330 million yuan. On July 20, 2021, Zhengye industry received the award issued by Shenzhen International Arbitration Court. Zhengye industry shall pay all financing principal, interest, liquidated damages and related litigation expenses within 10 days from the date of making the award. Houzhengye industry repaid part of the debt of Minmetals securities through the transfer of the company’s shares. On September 3, 2021, the company learned that Zhengye industry and related parties had signed a settlement agreement with Minmetals securities to make further arrangements for debt repayment. On November 4, 2021, Minmetals securities signed the supplementary agreement to the settlement agreement with Chulian technology and relevant parties, and the parties further agreed on the repayment period and capital cost. Up to now, Chulian technology has paid off all the financing principal, and the remaining debt interest and liquidated damages have fulfilled the repayment obligations in accordance with the supplementary agreement to the settlement agreement. 2. Disputes over stock pledge repurchase business (Xinyue No. 3 directional asset management plan)
On December 25, 2020, Zhengye industry informed the company that Minmetals securities submitted an enforcement application to Guangzhou notary office and applied to Dongguan intermediate people’s court for enforcement because its stock pledge repurchase business (Xinyue No. 3 directional asset management plan) in Minmetals securities triggered the breach clause. Dongguan intermediate people’s court accepted and filed the case and issued the enforcement notice [(2020) Yue 19 Zhi No. 1973], involving the amount of the subject matter of enforcement of about 191 million yuan. Houzhengye industry repaid part of the debt of Minmetals securities through the transfer of the company’s shares. On September 3, 2021, Zhengye industry informed the company that it and related parties had signed the settlement agreement with Minmetals securities and made further arrangements for debt repayment. On November 4, 2021, the company learned that Chulian technology and related parties had signed the supplementary agreement to the settlement agreement with Minmetals securities, and both parties decided to extend the repayment period agreed in the settlement agreement. Up to now, Chulian technology has paid off all the financing principal, and the remaining debt interest and liquidated damages have fulfilled the repayment obligations in accordance with the supplementary agreement to the settlement agreement. Minmetals securities submitted the application for termination of this execution procedure to Dongguan intermediate people’s Court on November 30, 2021. On December 31, 2021, Chulian technology informed the company that Dongguan intermediate people’s Court issued the execution ruling ((2020) Yue 19 No. 1973 one), ending the execution of (2020) Yue 19 No. 1973 case.
The above matters have been disclosed by the company on cninfo.com. The company will continue to pay attention to the progress of relevant matters and perform the obligation of information disclosure in a timely manner in strict accordance with relevant regulations. The information disclosure media designated by the company are China Securities News, Shanghai Securities News, Securities Daily Securities times and cninfo (www.cn. Info. Com.. CN.), All information of the company shall be subject to the information disclosed in the above designated media. Please pay attention to the investment risks.
4、 Documents for future reference
1. Notification letter;
2. Enforcement ruling.
It is hereby announced.
Guangdong Zhengye Technology Co.Ltd(300410) board of directors
January 6, 2022
