Feile Audio: Delay in replying to the inquiry letter, the matters involved in the sale of major assets are still to be resolved_Stock Channel_Securities Star

(Original title: Feile Audio: Delay in replying to the inquiry letter, the matters involved in the sale of major assets are still to be resolved)

On March 10, Feile Audio announced that it would postpone the reply to the previously received letter of inquiry from the Shanghai Stock Exchange on the company’s major asset sale plan.

According to the previous announcement, Feile Audio has disclosed that the company has increased the capital of Feile Investment by means of debt-to-equity swap, that is, the company’s holding of 1.548 billion yuan of debt in Feile Investment is converted into equity in Feile Investment. The plan disclosed that the company will transfer all the shares of its wholly-owned subsidiaries Yaming Lighting and Feile Construction to Feile Investment for free, and will sell 100% of the equity of Feile Investment. As of the third quarterly report in 2021, the net assets of Yaming Lighting and Feile Construction were 193 million yuan and 94 million yuan respectively.

In response to the above matters, the Shanghai Stock Exchange issued an inquiry letter to Feile Audio on March 4, requesting the company to supplement the operation and financial status of Feile Investment, as well as its business and financial transactions with the company, to explain the company’s debt-to-equity swap for Feile Investment. The main purpose; combined with the net assets of Yaming Lighting and Feile Construction, explain the company’s main consideration for the company to inject the above assets and then sell it as a whole instead of selling it separately; and the listing and sale of Feile Investment this time. impact, and explain the specific accounting treatment and basis.

With the delay in replying to the inquiry letter from Feile Audio, the relevant matters involved in the company’s major asset sale plan are still to be resolved. In other news, Feile Audio’s alleged securities misrepresentation liability dispute has progressed. According to the relevant announcement on February 9, Feile Audio has received the “Civil Ruling”, “Civil Judgment” and related legal documents for civil lawsuits sent by the court. The Shanghai Financial Court ruled that the company should compensate the plaintiffs involved in the securities misrepresentation liability dispute totaling RMB 26,252,600 for various losses, and ruled that the company should compensate the plaintiffs involved in the securities misrepresentation liability dispute totaling RMB 39,085,800. Up to now, the accumulative amount of awards in the newly added securities misrepresentation liability disputes by Feile Audio is 65.3384 million yuan.

According to the historical announcement, the main facts and reasons for the plaintiff investor’s lawsuit against Feile Audio Securities for false representation liability disputes are the Administrative Penalty Decision Letter received by Feile Audio on November 1, 2019 from the Shanghai Supervision Bureau of the China Securities Regulatory Commission. The Shanghai Regulatory Bureau of the China Securities Regulatory Commission determined that the company had violated the law. According to relevant judicial interpretations, Feile Audio was purchased from August 26, 2017 to April 12, 2018, and sold or still held after April 13, 2018 and has incurred a certain floating loss (whether or not it is resolved or not). Investors in the set) can protect their rights through legal channels. Investors who meet the above conditions can also send their name, contact information and stock transaction records (an Excel file is recommended) to the email address: weiquan@hongzhoukan.com, and participate in the collection of claims organized by the “Civil Rights Protection” column group of “Red Weekly”. The final compensation conditions and compensation amount in this claim collection will be determined by the court. Investors are not required to pay any attorney fees until they are compensated.

According to public information, Feile Audio was founded on November 18, 1984 and is the first joint-stock listed company in New China. Previously, due to two consecutive years of losses in 2018 and 2019, and the audited assets at the end of 2019 were negative, Feile Audio was issued a delisting risk warning from May 6, 2020, and the stock abbreviation was changed to “*” ST Feile”. With the company turning losses into profits in 2020, Feile Audio will withdraw the delisting risk warning from April 16, 2021.

Some market analysts said that Feile Audio Co., Ltd. has been collectively defended by many investors, and the follow-up sustainable development is still worthy of attention. For the follow-up developments of Feile Audio, we will continue to follow up and report.

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