600748: Shanghai Industrial Development Co.Ltd(600748) announcement on receiving the supervision letter of Shanghai Stock Exchange and major risk warning

Securities code: 600748 stock abbreviation: Shanghai Industrial Development Co.Ltd(600748) Announcement No.: lin2022-01 bond Code: 155364 bond abbreviation: 19 Shangshi 01 bond Code: 163480 bond abbreviation: 20 Shangshi 01

Shanghai Industrial Development Co.Ltd(600748)

Letter on receipt of supervision work of Shanghai Stock Exchange

And major risk warning announcement

The company guarantees that there are no false records, misleading statements or major omissions in the contents of this announcement, and assumes individual and joint liabilities for the authenticity, accuracy and completeness of its contents. Important content note: risk overview: Recently, Shanghai Industrial Development Co.Ltd(600748) (hereinafter referred to as “the company”) received the supervision letter from Shanghai Stock Exchange (hereinafter referred to as “Shanghai Stock Exchange”). According to the requirements of the supervision letter, Carry out self inspection on accounts receivable of Shanghai Shangshi longchuang Smart Energy Technology Co., Ltd. (hereinafter referred to as “Shangshi longchuang”), a holding subsidiary of the company. At present, the above verification is in progress.

According to the preliminary self inspection of the company, as of December 31, 2021, the unaudited accounts receivable of Shangshi longchuang totaled about RMB 2.615 billion, of which some businesses may involve financing trade, and the accounts receivable involved in such businesses may have unrecoverable risks. The company is stepping up further verification on the specific amount involved. The company will continue to make every effort to find out the above matters as soon as possible, carefully evaluate the impact of the above matters on the company’s operating performance in 2021, and timely fulfill the obligation of information disclosure. Please pay attention to the investment risks.

1、 The company’s receipt of supervision letter from Shanghai Stock Exchange

Recently, the company received the supervision letter on the company’s relevant situation from the Shanghai Stock Exchange, requiring the company to conduct self-examination and verification on the relevant business nature and risks of the receivables of the holding subsidiary shangshilongchuang, and fulfill the corresponding information disclosure obligations.

2、 Self inspection of the company

According to the requirements of the above regulatory work letter, the company has carried out self inspection on the accounts receivable of Shangshi longchuang. At present, the above verification is in progress. Combined with the preliminary self-examination results, as of December 31, 2021, the unaudited accounts receivable of Shangshi longchuang totaled about RMB 2.615 billion, of which some businesses may involve financing trade, and this kind of business model has significant business risks.

3、 Relevant risk tips

1. The part of the above unaudited receivables that may involve financing trade may be irrecoverable, and the company is stepping up further verification.

2. The company will continue to make every effort to find out the above matters as soon as possible, carefully evaluate the impact of the above matters on the company’s operating performance in 2021, and timely fulfill the obligation of information disclosure. Please pay attention to the investment risks.

It is hereby announced.

January 12, 2002

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