Securities code: Guangdong Bobaolon Co.Ltd(002776) securities abbreviation: St Bailong Announcement No.: 2022016 Guangdong Bobaolon Co.Ltd(002776)
Suggestive announcement on the suspension of stock trading and the failure to disclose regularly reported stocks within the statutory time limit may be subject to risk warning
Guangdong Bobaolon Co.Ltd(002776) (hereinafter referred to as “the company”) was originally scheduled to disclose the annual report of 2021 and the first quarter report of 2022 on April 30, 2022. Now, because the company is unable to disclose the annual report of 2021 within the statutory time limit, the trading of the company’s shares will be suspended from the opening of the market on May 5, 2022 in accordance with Article 8.3 of the stock listing rules of Shenzhen Stock Exchange (revised in 2022). If the company is still unable to disclose the 2021 annual report within 2 months of suspension, it will be subject to delisting risk warning. If the company still fails to disclose the 2021 annual report within 2 months after being warned of delisting risk, the listing of the company’s shares may be terminated. The relevant risks are disclosed as follows:
1、 Description of major risks
1. Since the company is unable to disclose the annual report of 2021 within the statutory time limit, according to Article 8.3 of the stock listing rules of Shenzhen Stock Exchange (revised in 2022), “if a listed company fails to disclose the annual report and semi annual report within the statutory time limit, the exchange will suspend the trading of the company’s shares and their derivatives on the next trading day after the expiration of the relevant periodic report disclosure period”, The trading of the company’s shares has been suspended since the opening of the market on May 5, 2022. 2. According to article 9.4.1 of the Listing Rules of Shenzhen Stock Exchange (revised in 2022), “if a listed company has one of the following circumstances, the bourse shall implement delisting risk warning for its stock trading: (I) it fails to disclose the annual report or semi annual report within the statutory time limit, and it has not been disclosed within two months of the suspension of trading of the company’s shares;” And article 9.4.5 “listed companies appear in article 9.4.1 (I) of these rules” In case of any of the above circumstances, the company shall disclose the risk warning announcement of delisting of the company’s stock trading before the opening of the trading day next to the expiration of two months of suspension of trading of its shares. The trading of the company’s shares will continue to be suspended for one trading day after the announcement. From the date of resumption of trading, the exchange will implement delisting risk warning for the company’s stock trading. If the company discloses the annual report and semi annual report that more than half of the directors guarantee to be true, accurate and complete within two months after the suspension of stock trading, the trading of the company’s shares shall be resumed after the announcement. ” If the 2021 annual report is not disclosed within two months of the suspension of trading of the company’s shares, the announcement of delisting risk warning will be disclosed on the next trading day after the expiration of two months of suspension, and the trading will be resumed from the next trading day and delisting risk warning will be implemented. If the company discloses the true, accurate and complete annual report and semi annual report guaranteed by more than half of the directors within two months after the suspension of stock trading, the trading of the company’s shares will be resumed after the announcement.
3. According to article 9.4.17 of the Listing Rules of Shenzhen Stock Exchange (revised in 2022), “in case of any of the following circumstances, the exchange decides to terminate the listing and trading of its shares: (I) within two months from the date when the delisting risk warning is implemented for its stock trading due to item (I) of article 9.4.1, the relevant annual report or semi annual report guaranteed by more than half of the directors is not disclosed”, If the company still fails to disclose the 2021 annual report within 2 months after being warned of delisting risk, the listing of the company’s shares may be terminated.
2、 Reasons for failure to disclose periodic reports within the statutory time limit
1. As of the disclosure date of this announcement, the company has not completed the by election of directors. According to article 5.2.4 of the Listing Rules of Shenzhen Stock Exchange (revised in 2022), “the contents of the company’s periodic report shall be reviewed and approved by the board of directors, and the periodic report without the review and approval of the board of directors shall not be disclosed.”, On April 20, 2022, the company disclosed the announcement on the resignation of directors, supervisors and senior managers of the company (Announcement No. 2022012). Due to the resignation of some directors of the company, Mr. Chen Weixiong, Ms. Chen Nana, Mr. Jiang Weirong and Ms. Huang lifeI, and in accordance with article 3.2.8 of the guidelines for self discipline supervision of listed companies of Shenzhen Stock Exchange No. 1 – standardized operation of listed companies on the main board, Mr. Chen Weixiong The resignation application of Ms. Chen Nana and Mr. Jiang Weirong took effect immediately, resulting in the number of members of the board of directors being lower than the minimum quorum, and the board of directors of the company was unable to hold a meeting normally and form a resolution.
2. The company received the decision on administrative punishment ([2022] No. 18) issued by China Securities Regulatory Commission on April 19, 2022. For details, see the announcement on receiving the decision on administrative punishment and market Prohibition (Announcement No.: 2022013) disclosed by the company on April 20, 2022. The CSRC ordered the company to make corrections on the relevant penalties, which involved the adjustment of the previous accounting report, with a long time span and heavy workload. As of the disclosure date of this announcement, the company has not completed the above adjustment.
To sum up, the preparation and review of the company’s annual report failed to be completed on schedule.
The company will fully promote the preparation of regular reports and disclose the annual report of 2021 and the report of the first quarter of 2022 as soon as possible. The company hereby apologizes to the majority of investors for the inconvenience caused by the failure to disclose the periodic report according to the scheduled time.
The information disclosure media designated by the company are securities times, China Securities News, Securities Daily, Shanghai Securities News and http://www.cn.info.com.cn, All information of the company is subject to the information disclosed by the above designated media. Please pay attention to the investment risks.
It is hereby announced.
Guangdong Bobaolon Co.Ltd(002776) April 29, 2022
