*Shareholders and actual controllers of St Lifan are subject to investigation or risk of delisting

According to the announcement, the company received notices from Lifan holding, the controlling shareholder of the company, and the actual controllers of the company, Yin Mingshan, Chen Qiaofeng, Yin Xidi and Yin Suowei on October 13, 2020, and they respectively received the “Notice of investigation” issued by the CSRC on October 12 and 13, 2020, because Lifan holdings, Yin Mingshan, Chen Qiaofeng, Yin Xidi and Yin Suowei were suspected of illegal information disclosure The SFC decided to file a case against him. According to the announcement, Lifan holdings is the controlling shareholder of the company, holding 47.08% of the company’s shares. Yin Mingshan, Chen Qiaofeng, Yin Xidi and Yin Suowei are all directors of the company. The above four directly hold 0.49% of the company’s shares; the above four indirectly hold 47.08% of the company’s shares through holding shares held by Lifan. < p > < p > * ST Lifan pointed out in the announcement that the company was ruled by the court to accept reorganization, and there was a risk of being declared bankrupt due to the failure of reorganization. If the company is declared bankrupt, the company will be subject to bankruptcy liquidation, and the company’s shares will face the risk of delisting. Even if the company’s restructuring and implementation is completed, if the company’s follow-up operation and financial indicators do not meet the requirements of relevant regulatory regulations such as the stock listing rules, the company’s shares still have the risk of delisting risk warning or delisting. Before that, Lifan shares reorganization application was accepted by the court. On August 25, Lifan shares were delisted risk warning, the stock abbreviation was changed to “* ST Lifan”, and the daily rise and fall of stock price was limited to 5%. Subsequently, * ST Lifan issued an announcement on the substantial merger and reorganization of the controlling shareholders and the participating companies by the court on the evening of August 31. The company’s controlling shareholder Lifan holdings, Lifan finance, Chongqing Huiyang Holding Co., Ltd. and Chongqing panda Automobile Leasing Co., Ltd., which are the controlling shareholders of the company, have been ruled by Chongqing No.5 intermediate people’s court for substantial merger and reorganization. < p > < p > * ST Lifan semi annual report disclosed that the company’s semi annual operating income was 518 million yuan, a year-on-year decrease of 13.39%, and the net profit attributable to shareholders of the listed company was -947 million yuan, a year-on-year decrease of 859.98%. < / P > < p > Disclaimer: the purpose of this article reprinted by china.com finance and economics is to convey more information and does not represent the views and positions of the website. The content of this paper is for reference only and does not constitute investment advice. Investors operate accordingly and bear their own risks. < p > < p > Chinanet is a national key news website under the leadership of the Information Office of the State Council and managed by China foreign language publishing and Distribution Bureau. Through 11 versions in 10 languages, the website releases information 24 hours a day, which is an important window for China to carry out international communication and information exchange.