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Announcement in respect of Continuation of Suspension of Trading

Published:2016-12-27

Stock Code: 600485        Stock Name: Xinwei Group        Ann No.: Lin 2016-184

 

Beijing Xinwei Technology Group Co., Ltd.
Announcement in respect of Continuation of Suspension of Trading

 

(The Board of Directors and all the directors of the Company warrant that this announcement contains no false representation, misleading statement or material omission, and shall be jointly and severally liable for the truthfulness, accuracy and completeness of the contents in this announcement.)

 

As there was false media report about Beijing Xinwei Technology Group Co., Ltd. (the “Company”) circulating on the internet on 23 December 2016, the Shanghai Stock Exchange issued a Letter of Inquiry Regarding Media Report on Beijing Xinwei Technology Group Co., Ltd. (the “Letter of Inquiry”) to the Company on 24 December 2016, inquiring about matters mentioned in the above media report. Considering that the media report, which contains major deviation from the facts, had caused massive adverse impact on the Company, trading of stocks and bonds of the Company was suspended for a whole day on 26 December 2016 through proper application process, in order to avoid abnormal fluctuations in its stock and bond prices. For detailed information, please refer to the Company’s announcement published on Shanghai Stock Exchange website (www.sse.com.cn) on 26 December 2016.

 

Since it takes time for the Company and the intermediary institutions to verify the matters mentioned in the Letter of Inquiry, the Company, with due approval, imposes continuation of suspension of trading with regard to its stocks and bonds from the opening of trading hours on 27 December 2016, in order to avoid abnormal fluctuations in stock and bond prices that may cause unnecessary loss to the Company and its investors.

 

The Company hereby undertakes to promptly respond to the Letter of Inquiry, fulfill the obligations of information disclosure and resume trading upon completion of verification process.  
The Company has informed the competent authority of the said false report on the first day of its circulation, and has issued a lawyer’s letter in this regard. The Company hereby clarifies that its operation has always been in compliance with all laws and rules as well as regulatory documents. The Company is determined to protect its own interest and that of the shareholders with all legal means.

 

The Board of Directors

Beijing Xinwei Technology Group Co., Ltd.

27 December 2016

Copyright © Beijing Xinwei Technology Group. Co., Ltd. All rights reserved. Stock code: 600485

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