Securities code: Jiangsu Hongtu High Technology Co.Ltd(600122) securities abbreviation: St Hongtu Announcement No.: pro 2022007 Jiangsu Hongtu High Technology Co.Ltd(600122)
Supplementary announcement on the court’s approval of the company to start pre reorganization
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.
Jiangsu Hongtu High Technology Co.Ltd(600122) disclosed the announcement on the court’s approval of the company to start pre reorganization (Announcement No.: pro 2022006) on April 2, 2022. In order to ensure that investors fully and accurately understand relevant information, the contents of the announcement are supplemented as follows:
1、 Impact of starting pre reorganization on the company
1. The implementation of pre reorganization is conducive to the company’s early start of basic work such as creditor’s rights declaration and review, asset status investigation, audit and evaluation, and communication with major creditors; It is beneficial for the company to fully negotiate with creditors and intended investors, fully grasp the opinions and attitudes of all parties on the reorganization matters, formulate a feasible reorganization plan as soon as possible, and improve the promotion efficiency of follow-up reorganization work and the success rate of voting on the reorganization plan.
2. Pre reorganization is the procedure before the court formally accepts the reorganization. This time, Nanjing Intermediate People’s court agrees to start the pre reorganization of the company, which does not mean that Nanjing Intermediate People’s court finally accepts the application for bankruptcy reorganization of the company, nor does it mean that the company officially enters the reorganization procedure. If the pre reorganization of the company is successful, the court will review whether to accept the reorganization application according to law. Up to now, whether the reorganization application can be accepted by the court and whether the company enters the reorganization procedure still has major uncertainties.
3. The company will seriously cooperate with the manager in all work during the pre reorganization period, actively communicate with the court, relevant government departments, creditors and other relevant parties, fulfill the debtor’s legal obligations, and fully promote the company to enter the reorganization procedure as soon as possible.
2、 Relevant risk tips
1. This pre reorganization is the procedure before the court formally accepts the reorganization and approves the reorganization plan. There is uncertainty about the success of the company’s pre reorganization. If the pre reorganization of the company is successful, the court will review whether to accept the reorganization application according to law, and there is uncertainty about whether the company can enter the reorganization procedure.
2. If the pre reorganization of the company is successful, the court will rule to accept the reorganization application. According to the relevant provisions of article 9.4.1 of the listing rules, the company’s shares will be subject to delisting risk warning.
3. If the court formally accepts the company’s reorganization application and the company successfully implements the reorganization and completes the reorganization plan, it will help to improve the company’s asset liability structure and promote the company to return to the track of healthy and sustainable development. However, even if the court formally accepts the reorganization application of the company, the company still has the risk of being declared bankrupt due to the failure of reorganization. If the company is declared bankrupt, the company will be subject to bankruptcy liquidation. According to article 9.4.13 of the listing rules, the company’s shares will face the risk of delisting.
4. On December 30, 2021, the company received the notice of filing a case from the China Securities Regulatory Commission (hereinafter referred to as the “CSRC”). Due to suspected illegal information disclosure, the CSRC decided to file a case against the company and its controlling shareholder sanbo Group Co., Ltd, For details, please refer to the announcement on receiving the notice of filing from China Securities Regulatory Commission (Announcement No.: pro 2022001) disclosed by the company on January 1, 2022. Up to now, the investigation work of the CSRC is still in progress and there is no conclusive opinion. If the company is subject to administrative punishment by the CSRC due to the above-mentioned filing and investigation matters, and touches the situation of major illegal compulsory delisting stipulated in the listing rules according to the facts determined by the administrative punishment decision, the company’s shares will face the risk of major illegal compulsory delisting.
The company will pay close attention to the progress of relevant matters, and fulfill the obligation of information disclosure in a timely manner in strict accordance with the requirements of laws and regulations, departmental rules and normative documents. The relevant information will be disclosed in the designated information disclosure media China Securities News, Shanghai Securities News, securities times and the website of Shanghai Stock Exchange (www.sse. Com. CN) The announcement issued shall prevail. Please make careful decisions and pay attention to investment risks.
It is hereby announced.
Jiangsu Hongtu High Technology Co.Ltd(600122) board of directors April 6, 2002
