Neoglory Prosperity Inc(002147) received the attention letter: it is required to explain the basis for confirming the profit distribution amount of 142 million yuan in Jiangsu 1912

Shenzhen stock exchange sent a letter of concern to Neoglory Prosperity Inc(002147) on April 12. In the early stage, the company signed the settlement agreement with Fengsheng holding and Jiangsu Yide, which agreed that the way for the company to recover the 1 billion earnest money includes receiving 64 million yuan in cash, transferring 30% equity of Jiangsu Xinjiu, accepting the pledge of 84 million shares of Nanjing Xincheng FA held by Jiangsu Yide, etc. Up to now, the relevant arrangements of the aforementioned settlement agreement have been overdue. On April 12, the company disclosed that the company and its subsidiaries signed five agreements to solve the return of 30% equity of Jiangsu Xinjiu; The company signed the supplementary agreement with Nanjing Dongtai, Fengsheng holding and other parties, and Nanjing Dongtai provided four commercial properties as an alternative guarantee measure for the pledge of 10 million shares of Nanjing New Town, with a guarantee limit of 40 million yuan. The shareholder Jiangsu 1912, who holds 30% of the equity of Jiangsu Xinjiu, transferred the creditor’s rights of RMB 172 million in total from the equity transfer receivable of RMB 30 million from Wanxia real estate and the accumulated undistributed profit receivable of RMB 142 million from Jiangsu Xinjiu (paid by Wanxia real estate) to Su min Jinfan. Su min Jinfan completed interest free payment in installments within three years.

Shenzhen stock exchange requires the company to explain the specific reason, purpose, rationality and authenticity of the large amount of funds borrowed by Wanxia real estate from Jiangsu Xinjiu, whether the accumulated distributable profits on the book of Jiangsu Xinjiu have been audited, the basis for the confirmation of the profit distribution amount of 142 million yuan in Jiangsu 1912, whether the late fee factor and the rationality of relevant arrangements have been considered; Please explain whether Wanxia real estate has performed proper deliberation procedures on the transfer of 30% equity of Jiangsu Xinjiu.

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