Northeast Electric Development Company Limited(000585) : Announcement on receipt of advance notice from Shenzhen Stock Exchange and risk warning that A-Shares may be delisted

A-share Stock Code: Northeast Electric Development Company Limited(000585) A-share stock abbreviation: Northeast Electric Development Company Limited(000585) Announcement No.: 2022017 Northeast Electric Development Company Limited(000585)

About receiving the advance notice from Shenzhen Stock Exchange

And the risk warning announcement that the company’s A-share shares may be delisted

The company and all members of the board of directors guarantee that the contents of the announcement are true, accurate and complete without false records, misleading statements or major omissions.

Northeast Electric Development Company Limited(000585) (hereinafter referred to as “the company”) received the advance notice (company Department letter (2022) No. 132) from Shenzhen Stock Exchange (hereinafter referred to as “Shenzhen Stock Exchange”) on March 31, 2022. The company hereby announces the specific contents of the advance notice and the risk warning that the company’s A-share shares may be terminated as follows:

1、 Specific contents of advance notice

On March 30, 2021, because the audited net profit after deducting non recurring profits and losses (hereinafter referred to as “net profit after deducting non recurring profits and losses”) of your company in 2020 was negative, the operating income was less than 100 million yuan and the net assets at the end of the period were negative, your company’s stock trading was warned of delisting risk.

On March 31, 2022, the first annual report after the delisting risk warning was implemented for your company’s stock trading shows that your company’s audited net profit after non deduction in 2021 was -401147 million yuan, operating income was 83.707 million yuan and net assets were -169697100 yuan. Your company is involved in the situation of stock delisting stipulated in article 9.3.11 of the stock listing rules (revised in 2022) of the exchange.

Your company has the right to apply for a hearing in accordance with the relevant provisions of the detailed rules for self regulatory hearing procedures of the exchange. If you apply for a hearing, your company shall submit an application to our department in writing within five trading days from the date of receiving this notice. If you fail to do so, you shall be deemed to have waived the right of hearing.

2、 Risk warning that the company’s A-share shares may be delisted

The trading of A-Shares of the company has been suspended since March 31, 2021. After receiving the “prior notice” from Shenzhen Stock Exchange, the company may apply for a hearing, make statements and defend according to the regulations. The Shenzhen Stock Exchange shall be deliberated by the Listing Committee on whether to terminate the listing of the company’s a shares, and make a decision on whether to terminate the listing of the company’s A-Shares according to the examination opinions of the listing committee.

If the Shenzhen stock exchange decides to terminate the listing of the company’s a shares, according to the provisions of articles 9.6.1, 9.6.2 and 9.6.10 of the stock listing rules (revised in 2022) of the Shenzhen Stock Exchange, the trading will resume on the next trading day after five trading days from the date when the Shenzhen Stock exchange announces the decision to terminate the listing of the company’s A-Shares and enter the delisting and consolidation period. During the delisting consolidation period, the securities code of the company’s A-share stock remains unchanged, and the abbreviation of A-share stock is preceded by the withdrawal sign to enter the risk warning board trading. The trading period of delisting consolidation period is 15 trading days. During the delisting consolidation period, the trading of A-Shares of the company will not be suspended in principle. If the company applies to the Shenzhen stock exchange for a full day suspension of A-Shares for special reasons, the suspension period shall not be included in the delisting consolidation period, and the cumulative number of days of suspension shall not exceed five trading days. The A-share of the company shall be delisted on the trading day following the expiration of the delisting consolidation period, and the listing of the A-share of the company shall be terminated.

According to article 9.1.16 of the stock listing rules (revised in 2022) of Shenzhen Stock Exchange, the company will do relevant work in time after the Shenzhen stock exchange makes the decision to terminate the listing of a shares, so as to ensure that the company’s A-Shares can be listed and transferred in the National SME share transfer system within 45 trading days from the date of delisting.

The company will continue to pay attention to the progress of the above matters and fulfill the obligation of information disclosure in time. The information disclosure media designated by the company is cninfo.com( http://www.cn.info.com.cn. )And the securities times, all information about the company shall be subject to the official announcement published by the company in the above designated media. Please pay attention to the company’s announcement and pay attention to investment risks.

It is hereby announced

Northeast Electric Development Company Limited(000585) board of directors April 1, 2022

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