Ju Li culture's performance is not up to standard Chairman Yu Haifeng did not fulfill the commitment to increase holdings of 200 million shares

www.techweb.com.cn/finance/2019-06-17...

[TechWeb] on June 17, Juli Culture announced that on June 14, 2019, it received a written notice from Yu Haifeng, Suzhou Juli Mutual Investment Management Center (hereinafter referred to as "Jili Mutual surplus"). Due to shortage of funds, Yu Haifeng and Juli Mutual Co., Ltd failed to increase their holdings of the company within the prescribed time.

On December 26, 2017, Yu Haifeng and Juli Mutual issued a written statement. In 2018, 2019, the net profit of the parent company (excluding the profit of Zhejiang Dilong New Materials Co., Ltd. And its subsidiaries) will not be less than RMB 700 million yuan, 850 million yuan, 950 million yuan after the audit by the accounting firm hired by the listed company. If the above promised profits are not fulfilled in any of the above years, the company and the Suzhou Juli Interprofit Investment Management Center (Co., Ltd.) will jointly increase their shares of listed companies with a market value of not less than 200 million through the secondary market bidding system within 30 trading days after the issuance of the annual audit report. The share lock period of such increase shall be 12 natural months after the completion of any increase and the date of issuance of the annual audit report of the company in 2020.

At the same time, Yu Haifeng and Jili Mutual profit promise: as of the date of issue of this statement, the locking period of the shares of listed companies held directly or indirectly shall be extended until June 8, 2020, but if the 2019 annual results stipulated in Article 1 of this statement fail to complete the obligation (if any) to increase the holding of the shares involved, the locking period shall be extended to the date of completion of the obligations of increasing holding.

A few days ago, Juli Culture released its 2018 results, showing that Juli Culture had revenue of 3.493 billion yuan in 2018, an increase of 21.18 percent over the same period last year. The net profit attributable to shareholders of listed companies was-2.897 billion yuan, down 707.67 percent from the same period last year.

In view of this, according to the above statement, the company's shareholders Yu Haifeng and Juli Muying should jointly increase the shares of listed companies not less than 200 million market value through the secondary market assembly bidding system within 30 trading days after the company's 2018 annual audit report is issued. . As of June 13, 2019, the above-mentioned increase in duration has expired.

According to the announcement, on June 14, 2019, the company received a written notice from Mr. Yu Haifeng and Jili Mutual. The specific contents are as follows: due to the shortage of funds, Mr. Yu Haifeng failed to increase his stake in the company within the time specified in the written statement issued on December 26, 2017. Mr. Yu Haifeng, Jili Mutual expressed sincere apologies for failing to complete the increase in shares on time to the majority of investors. Yu Haifeng, the direct or indirect holding of the shares of listed companies is extended to the completion date of the obligation to increase holdings. (Zhou Xiaobai)

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Poly strength performance compliance chairman Yu Haifeng not fulfillment overweight 200 million yuan shares commitment

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