Beijing News (Reporter Xue Chen) CITIC Guoan Wine Industry Co., Ltd. (hereinafter referred to as "*ST China-Portugal") issued an announcement on February 7 stating that the company received a notice letter from its controlling shareholder CITIC Guoan Group Co., Ltd. (hereinafter referred to as "Guoan Group") and its joint actor CITIC Guoan Investment Co., Ltd. (hereinafter referred to as "Guoan Investment") on January 30, 2022. The notice letter stated that the Beijing No. 1 Intermediate People's Court (hereinafter referred to as "Beijing No. 1 Intermediate People's Court") has ruled to accept the application of relevant creditors to reorganize Guoan Group, and this incident may lead to a change in the control of *ST China-Portugal. Screenshot of the China-Portugal announcement.
Specifically, as of the date of this announcement, Guoan Group held 2.387 billion shares of *ST 1 China-Portuguese Co., Ltd., accounting for 34.48% of the total share capital of *ST China-Portuguese Co., Ltd.; Guoan Investment held 117 million shares of *ST China-Portuguese Co., Ltd., accounting for 10.45% of the total share capital of *ST China-Portuguese Co., Ltd.; Guoan Group and Guoan Investment held a total of 504 million shares of *ST China-Portuguese Co., Ltd., accounting for 44.93% of the total share capital of *ST China-Portuguese Co., Ltd.
As the controlling shareholder of *ST China-Portugal, all *ST China-Portugal shares held by Guoan Group have been frozen by judicial or waiting for freeze. The controlling shareholder was accepted by the Beijing No. 1 Intermediate People's Court and the reorganization application was entered into the reorganization procedure , which may lead to a change in the control rights of *ST, China and Portugal. There is a risk that the control rights of *ST, China and Portugal may change.
*ST China-Portugal also stated that there is still uncertainty about whether Guoan Group can successfully reorganize in the future; *ST China-Portugal and its controlling shareholders remain independent in business, personnel, assets, institutions, finance, etc., and the application for reorganization of Guoan Group will not have a significant adverse impact on the daily production and operation of *ST China-Portugal. *ST China and Portugal will continue to pay attention to the subsequent progress of this matter and fulfill their information disclosure obligations in a timely manner in accordance with regulations.
Beijing News reporter Xue Chen Editor Zheng Mingzhu
Proofreading Li Ming Picture Company announcement screenshot
