Stock Code: 002175 stock abbreviation: * ST Dongwang Announcement No.: 2022-004 Oriental Times Media Corporation(002175)
Announcement on the cancellation of delisting risk warning implemented due to reorganization and the continued implementation of financial delisting risk warning and other risk warnings in the company's stock trading
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
Special tips:
1. On January 14, 2022, Shenzhen Stock Exchange (hereinafter referred to as "SZSE") agreed that Oriental Times Media Corporation(002175) (hereinafter referred to as "the company" or "Dongfang network") would cancel the delisting risk warning implemented due to restructuring, and agreed that the company would cancel the delisting risk warning implemented by superposition.
2. Since the audited net assets at the end of the period in 2020 are negative, and the net profits before and after deducting non recurring profits and losses from 2018 to 2020 are negative, whichever is lower, and the audit report in 2020 shows that there is uncertainty in the company's sustainable operation ability, according to the relevant provisions of the stock listing rules of Shenzhen Stock Exchange (hereinafter referred to as the "Listing Rules"), Shenzhen Stock Exchange has implemented delisting risk warning and other risk warnings for the company's stock trading on May 6, 2021. For the above risk warnings, the company will handle them in accordance with the relevant provisions of the Listing Rules after the annual audit institution issues the 2021 audit report.
3. The company cancels the delisting risk warning implemented due to reorganization, and continues to implement the delisting risk warning and other risk warnings implemented due to finance. The abbreviation of the company's stock is still "* ST East network", the stock code is still "002175", and the rise and fall limit on the stock trading day is still 5%. Please invest rationally and pay attention to risks.
1、 The main reasons for revoking the delisting risk warning implemented due to restructuring and continuing to implement the delisting risk warning and other risk warnings implemented due to finance
(1) Cancellation of delisting risk warning implemented due to reorganization
On October 27, 2021, Guilin intermediate people's Court (hereinafter referred to as "Guilin intermediate people's court") ruled to accept the company's reorganization application according to law, and according to item (VII) of article 9.4.1 of the listing rules, "the court shall be accepted according to law
In accordance with the provisions of "application for reorganization, reconciliation or bankruptcy liquidation of the company", the company's shares have been superimposed and implemented delisting risk warning on October 28, 2021. The stock abbreviation is still "* ST East network", the stock code is still "002175", and the daily rise and fall limit of stock trading is still 5%. For details, see the announcement on the court's ruling to accept the risk warning of company reorganization and continued delisting of shares disclosed by the company on October 28, 2021 (Announcement No.: 2021-093).
On December 31, 2021, Guilin intermediate people's court ruled that the company's reorganization plan had been implemented and the company's reorganization procedures had been terminated. For details, see the announcement on the completion of the implementation of the reorganization plan (Announcement No.: 2022-001) disclosed by the company on January 1, 2022. In view of the completion of the reorganization plan, according to the relevant provisions of the listing rules, the delisting risk warning of the company's stock trading due to the legal acceptance of the reorganization in the early stage has been eliminated. Therefore, the company has applied to Shenzhen stock exchange for cancellation of delisting risk warning on January 7, 2022. Shenzhen stock exchange now agrees to cancel the delisting risk warning of the company's shares due to restructuring. For details, please refer to the announcement on applying for cancellation of delisting risk warning on the company's stock trading due to reorganization (Announcement No.: 2022-002) disclosed by the company on January 8, 2022.
(2) Main reasons for continuing to implement delisting risk warnings and other risk warnings implemented due to finance
1. The net profit of the company before and after deducting non recurring profits and losses from 2018 to 2020, whichever is lower, is negative, and the 2020 audit report shows that there is uncertainty in the company's sustainable operation ability. According to the relevant provisions of the listing rules, Shenzhen Stock Exchange has implemented other risk warnings for the company's stock transactions on May 6, 2021. For details, please refer to the announcement on warning of additional risks and delisting risks of the company's shares disclosed by the company on April 30, 2021 (Announcement No.: 2021-037).
2. According to the audit of ZTE caiguanghua Certified Public Accountants (special general partnership), as of December 31, 2020, the net assets of the Company attributable to the shareholders of the listed company were -904426428.31 yuan. According to the relevant provisions of the listing rules, Shenzhen Stock Exchange has implemented delisting risk warning for the company's stock trading on May 6, 2021. For details, please refer to the announcement on warning of additional risks and delisting risks of the company's shares disclosed by the company on April 30, 2021 (Announcement No.: 2021-037).
For the above risk warnings, the company will handle them in accordance with the relevant provisions of the Listing Rules after the annual audit institution issues the 2021 audit report.
2、 Description of other matters
1. The implementation of the company's reorganization plan has significantly improved the company's financial and operating conditions. The reorganization will have a positive impact on the company's net profit and net assets at the end of the period in 2021. The specific amount of impact is subject to the 2021 audit report issued by the annual audit institution. Investors are invited to pay attention to investment risks.
The company will actively do a good job in daily operation and management, and disclose in strict accordance with the listing rules and other relevant laws, regulations and rules.
It is hereby announced.
Oriental Times Media Corporation(002175) board of directors January 14, 2002
