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In response to the difference between the investor situation of * ST Hong Tao's performance statement and the previous reply to the concern letter of the Shenzhen Stock Exchange, and the stock price changes after * ST Hong Tao disclosed the record of investor relations activities, the Shenzhen Stock Exchange issued a concern letter to * ST Hong Tao on May 20.

The Shenzhen Stock Exchange requires companies to explain whether there is insider trading, market manipulation, unfair disclosure of information or speculation of share prices through information disclosure.

As of the close on May 20, * ST Hong Tao rose by the daily limit of 0.Heyspinscasino.98 yuan per share, with a total market capitalization of 1.7 billion yuan.

There are differences between the two responses.

Arouse the attention of the exchange

* ST Hung Tao held an earnings presentation on May 15 and disclosed the record sheet of investor relations activities on the same day.

According to the letter of concern, some investors asked about the substantial progress after the signing of the framework agreement on share transfer between the company and Shenzhen Zhaojin and Hainan Zhaojin (collectively referred to as "transferee"). * ST Hong Tao replied that the framework agreement signed by Chairman Liu Nianxin with Shenzhen Zhaojin and Hainan Zhaojin is still valid, and the two sides continue to maintain close communication and contact, and further improve and optimize the relevant details of the cooperation.

However, the reply on the concern letter of Shenzhen Stock Exchange disclosed by ST Hong Tao on March 16 shows that Shenzhen Zhaojin and Hainan Zhaojin suspended due diligence work in view of the progress of the company's restructuring, there is still uncertainty about the follow-up progress of the Framework Agreement, and there is still uncertainty about whether a formal equity transfer agreement can be signed.

The Shenzhen Stock Exchange said that the company's performance statement will respond to investors, which is different from the previous response to the Shenzhen Stock Exchange's concern letter. The Shenzhen Stock Exchange requires the company to explain in detail the reasons and rationality for the transferee to further improve and optimize the details of cooperation with the company after the "suspension of due diligence"; at the same time, the Shenzhen Stock Exchange requires the company to explain, whether there are inconsistencies in the aforementioned disclosure and whether the company discloses the progress of the framework agreement in a true, accurate, complete and timely manner.

On the evening of February 4th, * ST Hong Tao announced that Liu Nianxin recently signed a framework agreement on share transfer with Shenzhen Zhaojin, Hainan Zhaojin and listed companies. Shenzhen and Hainan recruit funds together to transfer 8040 of Liu Nianxin's holdings.Heyspinscasino.51 million shares of the company, accounting for 4.58% of the total share capital of the company. According to the Framework Agreement, after the above shares are delivered, Liu Nianxin entrusts all his remaining ST Hong Tao voting rights to Shenzhen Zhaojin Metal and Hainan Zhaojin Mining for a period of one year. At that time, Ouyang Yong, the joint actual controller of Shenzhen Zhaojin and Hainan Zhaojin, will become the actual controller of Hong Tao of * ST.

According to the Framework Agreement, whether or not * ST Hong Tao enters the reorganization process, the transferee will act as * ST Hong Tao restructuring investor or transfer the control of * ST Hong Tao, and it is necessary to have an in-depth, comprehensive and complete understanding of the situation of * ST Hong Tao.

To this end, the Shenzhen Stock Exchange asked * ST Hong Tao to explain in detail the reasons, rationality and necessity for Shenzhen Zhaojin and Hainan Zhaojin to suspend due diligence, whether they have carried out due diligence in accordance with the original schedule, and the contents and specific progress of due diligence work that has been carried out. Whether there is a situation of termination of the agreement stipulated in the Framework Agreement that there is a big gap between the company announcement and documents and the result of the adjustment, and * whether there are substantive obstacles to the transfer of control of ST Hongtao.

Changes in stock prices after the performance presentation meeting

According to public information, * ST Hongtao's main business is to undertake the design and construction of public decoration projects such as theatres, libraries, offices, etc., which is divided into three types according to products: public building decoration project, residential building decoration project and design business.

As the 2023 financial statements were issued with an audit report that could not be expressed, * ST Hong Tao was given a delisting risk warning since the opening of the market on May 6th.

Hong Tao's share price of * ST has fallen by its daily limit since May 6, falling below 1 yuan on May 10. As of May 17, * ST Hongtao's share price has been less than 1 yuan for six consecutive trading days, so there is a risk of delisting.

The Shenzhen Stock Exchange is concerned about two changes in the share price of * ST from May 6 to 15. After the company disclosed the record of investor activity on the evening of May 15, the company's share price rose by the limit for two consecutive trading days. To this end, the Shenzhen Stock Exchange requires companies to explain whether there are situations such as insider trading, market manipulation, unfair disclosure of information or speculation of stock prices through information disclosure.