Securities code: 000687 securities abbreviation: * ST Huaxun Announcement No.: 2022-010
Huaxun Fangzhou Co.Ltd(000687)
Progress on the application for reorganization of the company by creditors
And the risk warning announcement that the company’s shares may be delisted
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 risk warning: as the net profit attributable to the shareholders of the listed company in 2020 is negative, the operating income is less than RMB 100 million, and the net assets at the end of 2020 are negative, the company’s 2020 financial and accounting report has been issued with an audit report that cannot express opinions. The company has continued to implement delisting risk warning since the disclosure of the 2020 annual report on April 30, 2021. As of September 30, 2021, the owner’s equity attributable to the shareholders of the listed company was -1.541 billion yuan; From January to September 2021, the company’s net profit attributable to shareholders of listed companies was – 139 million yuan, and the company’s operating revenue from January to September 2021 was 26 million yuan. As of the date of issuance of this announcement, Guangzhou Muyang, the creditor, applied to the court for judicial reorganization of the company on the grounds that the company could not pay off its due debts and could obviously lose its solvency. Guangzhou Muyang has sent an application for withdrawal of appeal to the higher people’s Court of Guangdong Province to apply for withdrawal of the appeal against the court’s ruling of inadmissibility. Affected by the progress of restructuring, the negative situation of the company’s net assets did not improve significantly in the fourth quarter. The company expects that the company’s net assets will remain negative at the end of 2021. According to article 9.3.11 of the Listing Rules of Shenzhen Stock Exchange (revised in 2022), If the annual report of the company in 2021 shows that “the net profit attributable to the shareholders of the listed company in 2021 is negative and the operating income is less than RMB 100 million”, or “the net assets at the end of 2021 are negative”, or “the audit report with qualified opinions, unable to express opinions or negative opinions is issued in the financial and accounting report of 2021”, the listing of the company’s shares will be terminated. Please invest rationally and pay attention to investment risks.
1、 Overview of the progress of the company’s application for reorganization
Huaxun Fangzhou Co.Ltd(000687) (hereinafter referred to as “the company”) received the notification letter from the creditor Guangzhou Muyang property right brokerage Co., Ltd. (hereinafter referred to as “Guangzhou Muyang”) on March 26, 2020. According to the notification letter, according to the enterprise bankruptcy law of the people’s Republic of China, Guangzhou Muyang applied to the court for reorganization of the company on the grounds that the company could not pay off its due debts and could obviously lose its solvency. For details, please refer to the suggestive announcement on creditors’ application for company reorganization (Announcement No.: 2020-032) disclosed by the company on March 28, 2020.
On July 28, 2021, the company received a letter from Shenzhen intermediate people’s Court of Guangdong Province (hereinafter referred to as “Shenzhen”)
Securities code: 000687 securities abbreviation: * ST Huaxun Announcement No.: 2022-010
According to the notice (2020) Yue 03 Po Shen No. 97, Shenzhen intermediate people’s court decided to start the pre reorganization of the company. For details, see the announcement on the court’s decision to start the pre reorganization of the company (Announcement No.: 2021-077) disclosed by the company on July 29, 2021.
On August 23, 2021, the company received the decision of Shenzhen intermediate people’s Court (2020) Yue 03 Po Shen No. 97. According to the decision, Shenzhen intermediate people’s court appointed Beijing Zhonglun (Shenzhen) law firm and Guangdong Yuanhao law firm as temporary managers during the pre reorganization of the company, For details, see the announcement on the appointment of temporary manager by the court during pre reorganization (Announcement No.: 2021-092) disclosed by the company on August 24, 2021.
On September 3, 2021, the company disclosed the notice on the declaration of pre reorganization creditor’s rights, asking all creditors to declare their creditor’s rights in time. For details, see the notice on the declaration of pre reorganization creditor’s rights (Announcement No.: 2021-104) disclosed by the company on September 3, 2021.
On October 22, 2021, the company received the civil ruling (2020) Yue 03 Po Shen No. 97 delivered by Shenzhen intermediate people’s court. According to the ruling, the creditor Guangzhou Muyang property right brokerage Co., Ltd. has ruled that the company’s reorganization application will not be accepted, For details, please refer to the announcement on the creditor’s application for reorganization not accepted by the court (Announcement No.: 2021-128) disclosed by the company on October 24, 2021.
On November 4, 2021, the company received the civil appeal served by Shenzhen intermediate people’s court, and Guangzhou Muyang filed an appeal against the court’s ruling of inadmissibility. For details, see the announcement on the progress and risk warning of the company’s application for reorganization by creditors (Announcement No.: 2021-137) disclosed by the company on November 5, 2021.
2、 This progress
On January 21, 2022, the company received the notification letter sent by the creditor Guangzhou Muyang property right brokerage Co., Ltd. after careful consideration, it decided to withdraw the appeal against the court’s ruling of inadmissibility, which was filed on
The application for withdrawal of appeal was sent to the higher people’s Court of Guangdong Province on January 20, 2022.
3、 The risk that the company’s shares may be delisted
As the net profit attributable to the shareholders of the listed company in 2020 is negative, the operating income is less than RMB 100 million, and the net assets at the end of 2020 are negative, the company’s 2020 financial and accounting report has been issued with an audit report that cannot express opinions. The company has continued to implement delisting risk warning since the disclosure of the 2020 annual report on April 30, 2021.
As of September 30, 2021, the owner’s equity attributable to the shareholders of the listed company was -1.541 billion yuan; From January to September 2021, the company’s net profit attributable to shareholders of listed companies was – 139 million yuan, and the company’s operating revenue from January to September 2021 was 26 million yuan. As of the date of this announcement, the creditor Guangzhou Muyang applied to the court for judicial reorganization of the company on the grounds that the company could not pay off its due debts and could obviously lose its solvency,
Securities code: 000687 securities abbreviation: * ST Huaxun Announcement No.: 2022-010
Guangzhou Muyang has sent the application for withdrawal of appeal to the higher people’s Court of Guangdong Province to withdraw the appeal against the court’s inadmissibility. Affected by the progress of restructuring, the negative situation of the company’s net assets did not improve significantly in the fourth quarter. The company expects that the company’s net assets will remain negative at the end of 2021.
According to article 9.3.11 of the Listing Rules of Shenzhen Stock Exchange (revised in 2022), If the annual report of the company in 2021 shows that “the net profit attributable to the shareholders of the listed company in 2021 is negative and the operating income is less than RMB 100 million”, or “the net assets at the end of 2021 are negative”, or “the audit report with qualified opinions, unable to express opinions or negative opinions is issued in the financial and accounting report of 2021”, the listing of the company’s shares will be terminated. Please invest rationally and pay attention to investment risks.
The information disclosure media designated by the company are Shanghai Securities News and http://www.cn.info.com.cn, All information publicly disclosed by the company shall be subject to the announcement published in the above designated media. Please invest rationally and pay attention to investment risks.
It is hereby announced.
Huaxun Fangzhou Co.Ltd(000687) board of directors
January 22, 2022
