China Financial International (00721) announced that the company has recently taken actions to comply with the guidelines for resuming trading, that is...
Question 1: Major uncertainties related to the going concern basis.
Except for the sale of 16.67% equity of Jilin Jusheng Light Alloy Co., Ltd. for RMB 60 million in cash to a third party independent of the Company in January 2024, as of the date of this announcement, the Company has no plans to liquidate other investments or carry out any fundraising activities. The Company will continue to seek other opportunities to (1) liquidate the Company's investments and/or (2) carry out fundraising activities to increase the Company's cash level.
As of the date of this announcement, no final agreements have been reached on any of the above actions. The Company will publish further announcements in a timely manner in accordance with Listing Rules to inform shareholders of any significant updates.
Question 2: Advance payments for investment and receivables from the sale of investments.
The Company has been in consultation and discussion with other investors of two non-listed investee companies regarding additional capital contributions or repayment of advance payments, but no conclusion has been reached yet. The consultation is still ongoing. The Company has urged the two non-listed investee companies and other investors to take action as soon as possible.
Except for the disclosed information, there is no other significant information that needs to be disclosed for evaluation of the Company's condition by shareholders and investors.
In addition, the company's shares remain suspended from trading.