ST Jingga (600190.SH) announcement, the company has previously distributed to 19 financial institutions with which it has cooperative relationships...
According to the announcement by ST Jingga (600190.SH) on Zhitong Finance APP, the company has previously sent 'Letter of Inquiry on External Guarantee Situation' to 19 financial institutions with which the company has cooperative relationships. As of the date of this announcement, the company has received responses from 5 financial institutions. According to the response from Fushun Bank, on May 22, 2024, the company's former legal representative and president, Liu Hui, exceeded his authority without the approval of the board of directors and the shareholders' meeting, and signed 2 'Guarantee Contracts' on behalf of the company with Fushun Bank Development Zone Branch, agreeing that the company would provide joint liability guarantees for a total loan amount of 0.39 billion yuan to Fushun Bank. However, the company has never publicly disclosed that the competent authority had reviewed and approved the signing of the 'Guarantee Contracts'. The above actions have led to the company's violation of providing external guarantees. As of the date of this announcement, the total balance of the company's improper external guarantees is approximately 0.48 billion yuan, accounting for 7.11% of the company's most recent audited net assets attributable to shareholders.
Due to the related issues, the company has received the 'Regulatory Work Letter on ST Jingga's Violation of Guarantee Matters' issued by the Listing Company Management Department of Shanghai Stock Exchange on November 18, 2024.
