Stock abbreviation: * ST Yinyi Stock Code: 000981 Announcement No.: 2022-001 Yinyi Co.Ltd(000981)
Announcement on the implementation progress of the company’s reorganization plan
All members of the board of directors of the company guarantee that the contents of the announcement are true, accurate and complete, and there are no false records, misleading statements or major omissions.
Special tips:
1. As of the date of this announcement, Yinyi Co.Ltd(000981) (hereinafter referred to as “Yinyi shares” or “the company”) restructured investor zihejinxin equity investment partnership (limited partnership) (hereinafter referred to as “zihejinxin”) has paid a total investment of RMB 3.2 billion (including performance bond of RMB 153 million) to the manager’s account of the company.
2. The court has ruled that the company terminates the reorganization procedure and enters the implementation stage of the reorganization plan. According to the relevant provisions of the enterprise bankruptcy law, if the company cannot or does not implement the reorganization plan during the implementation of the reorganization plan, the company will be declared bankrupt and liquidated by the court. If the company is declared bankrupt and liquidated by the court, the company’s shares will face the risk of delisting according to item (VI) of article 9.4.17 of the stock listing rules of Shenzhen Stock Exchange (revised in 2022).
On June 23, 2020, Ningbo intermediate people’s court ruled to accept the reorganization application for Yinyi shares, and the company officially entered the reorganization procedure. On October 27, 2020, under the supervision of Ningbo intermediate people’s court, Zhejiang Province, the review committee of the company’s restructuring investors determined that zihejinxin was the company’s restructuring investor according to the scoring results, and its total investment quotation was RMB 3.2 billion. On December 11, 2020, the second creditors’ meeting and the investors’ group meeting of the company were held, and the Yinyi Co.Ltd(000981) reorganization plan (Draft) and the investor’s rights and interests adjustment plan of Yinyi Co.Ltd(000981) reorganization plan (Draft) were voted and approved respectively. On the same day, the manager of the company signed the restructuring investment agreement with zihejinxin. On December 15, 2020, the manager of the company received the civil ruling (2020) zhe 02 Po No. 4 issued by Ningbo intermediate people’s court, ruled to approve the reorganization plan of Yinyi shares and terminate the reorganization procedure of Yinyi shares. At present, the company has entered the implementation stage of the reorganization plan, and various implementation work is being promoted.
1、 Progress of debt settlement
1. Progress in the settlement of claims secured by property
As of the date of this announcement, the company has used the investment funds paid by the reorganization investors to complete the first and second repayment of the property secured creditor’s rights, and paid the interest payable in accordance with the reorganization plan, with a total amount of 118860401.89 yuan.
2. Progress in cash settlement of ordinary claims
As of the date of this announcement, 131 creditors involved in cash settlement of ordinary creditor’s rights have been determined and confirmed by Ningbo intermediate people’s court, 127 have completed cash settlement with the investment funds paid by restructuring investors, and a total of 121618305.00 yuan of ordinary creditor’s rights has been paid; The remaining four creditors have not paid off the above debts in cash due to the failure to provide bank account information. After the correction or provision of the above creditor’s bank account information, the above cash settlement will be started immediately.
Subsequently, the company will continue to complete the implementation of the reorganization plan under the supervision and guidance of the court and the manager.
2、 Progress in the implementation of the restructuring investment agreement
1. As of the date of this announcement, zihejinxin, the reorganization investor of the company, has paid a total investment of RMB 3.2 billion (including performance bond of RMB 153 million) to the manager’s account of the company.
2. According to the restructuring investment agreement, after the restructuring investors paid all the above investment funds, the company and the manager have timely started the conversion of capital reserve into shares in the restructuring plan. Now, due to the epidemic of covid-19 pneumonia in Shenzhen, it is limited to go to Shenzhen to handle the conversion and transfer of shares, This has led to a certain delay in the conversion of capital reserve into shares.
At present, the company and the manager are actively coordinating with relevant departments to strive to continue to promote the implementation of the conversion of capital reserve into shares as soon as possible. If there is substantial progress, the company will timely perform relevant information disclosure. Please pay attention to investment risks.
3、 Risk tips
The court has ruled that the company terminates the reorganization procedure and enters the implementation stage of the reorganization plan. According to the relevant provisions of the enterprise bankruptcy law, if the company cannot or does not implement the reorganization plan during the implementation of the reorganization plan, the company will be declared bankrupt and liquidated by the court. If the company is declared bankrupt and liquidated by the court, the company’s shares will face the risk of delisting according to item (VI) of article 9.4.17 of the stock listing rules of Shenzhen Stock Exchange (revised in 2022).
The information disclosure media designated by the company are China Securities News, Shanghai Securities News, securities times, securities daily and cninfo.com（ http://www.cn.info.com.cn. ）, all information of the company is subject to the information published in the above designated media. Please make prudent decisions and pay attention to investment risks.
It is hereby announced.
Yinyi Co.Ltd(000981)
Board of directors
January 24, 2002
