Securities code: 600166 securities abbreviation: Beiqi Foton Motor Co.Ltd(600166) No.: pro 2022-008 Beiqi Foton Motor Co.Ltd(600166)
Announcement on the company's failure to receive loans from shareholders of Beijing baowo at maturity
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or material omissions in the contents of this announcement
And bear individual and joint liabilities for the authenticity, accuracy and integrity of its contents.
Important:
● Beijing baowo Automobile Co., Ltd. (hereinafter referred to as "Beijing baowo") shall repay the company's loan principal and all unpaid interests totaling RMB 1.88 billion on January 17, 2022. As of January 17, 2022, the company has not received the above amount. This event does not involve retroactive adjustment. As of September 30, 2021, the company has accrued the corresponding credit impairment loss of about 427 million yuan in accordance with the requirements of accounting standards.
● the due and uncollected borrowings from Beijing baowo shareholders have no impact on the cash flow of the company's commercial vehicle business and have a certain impact on the company's overall cash flow, but will not affect the company's normal production and operation.
● the company has applied to Beijing Arbitration Commission for arbitration and preservation on the loan of Beijing baowo shareholders. The company will continue to follow up and take legal means, including but not limited to, to recover the loan of Beijing baowo shareholders. Please pay attention to the investment risk.
● the seizure of assets necessary for the production and operation of Beijing baowo will have an adverse impact on the recovery of relevant creditor's rights of the company, and the guarantor Shenzhou Youche Co., Ltd. (hereinafter referred to as "Shenzhou Youche") has the risk of failing to perform its guarantee obligations. See III. risk tips for details.
1、 Progress of this project
On April 5, 2020, the company signed the asset debt repayment contract with Beijing baowo. After Beijing baowo repaid the debt with assets, the remaining outstanding loan principal and all unpaid interest under the loan agreement shall be paid by Beijing baowo in cash according to the repayment time under the loan agreement. Both parties can negotiate the repayment time of the above outstanding loan principal and interest separately, However, the repayment time shall not be later than January 17, 2023, and the repayment amount before January 17, 2022 shall not be less than 50% of the total principal and interest of the outstanding loan (see announcement Lin 2020-033 for details). By the end of June 2021, the company and Beijing baowo had completed the debt repayment of relevant assets (see Announcement No. 2020-059, 2020-069, 2020-074 and 2021-027 for details).
As of January 17, 2022, the remaining principal and interest of Beijing baowo shareholder's loan amounted to RMB 1.88 billion.
According to the repayment time agreed under the loan agreement, the above debts shall expire on January 17, 2022. As of January 17, 2022, the company has not received the above payment. This event does not involve retroactive adjustment. As of September 30, 2021, the company has accrued the corresponding credit impairment loss of about 427 million yuan in accordance with the requirements of accounting standards.
2、 Measures taken by the company
In order to promote the company to recover the shareholder's loan of Beijing baowo and ensure the legitimate rights and interests of the company, the company has applied to Beijing Arbitration Commission (hereinafter referred to as "Beizhong") for arbitration and preservation, claimed all the unpaid principal and interest of the shareholder's loan from the debtor Beijing baowo and the guarantor Shenzhou Youche, and Beizhong submitted the preservation application to Beijing No. 1 Intermediate People's court. (see Announcement No. 2021-091, 2021-096 and 2021-099 for details)
The company will actively cooperate with Beizhong in the trial of shareholder loan cases and resolutely safeguard the legitimate rights and interests of the company. Since the above arbitration cases have not been heard in court, the impact of the above matters on the company's profits in the current period or after the period is uncertain. The above matters will not affect the normal operation of the company. The company will continue to follow up and take legal measures, including but not limited to, to recover the borrowings of Beijing baowo shareholders.
3、 Risk tips
The relevant assets of Beijing baowo have been sealed up, which will have an adverse impact on the recovery of relevant creditor's rights of the company (see Lin Announcement No. 2021-101 for details). Shenzhou Youche provides joint and several liability guarantee for the payment of the above remaining principal and interest of Beijing baowo. The guarantor's performance ability is still uncertain and there is a risk of failure to perform the guarantee obligation.
The company will disclose the progress in a timely manner in strict accordance with the relevant provisions of the CSRC and Shanghai Stock Exchange. The relevant information will be published on the information disclosure media designated by the company and the website of Shanghai Stock Exchange (www.sse. Com. CN.) The announcement shall prevail. Please invest rationally and pay attention to investment risks.
It is hereby announced.
Beiqi Foton Motor Co.Ltd(600166)
Board of directors
January 18, 2002
