*ST Gaosheng (000971): Junfeng Fund Has Been Revoked In Beijing.

*ST Gaosheng (000971.SZ) announced that in January 4, 2019 and April 24th, the company published the notice on the reply to the Shenzhen stock exchange's letter of concern, the notice on receipt of the respondent of Shenzhen intermediate people's court and the relevant legal documents and proceedings progress announcement in the designated information disclosure media in January 4, 2019 and April 24th. Recently, the company learned through the Chinese referee network that the Guangdong Provincial Higher People's Court issued a civil ruling No. 2019 (No. 319).

The company acquired 99.997% stake in Beijing Hua Qi Communication Technology Co., Ltd. ("Hua Qi communications"), and approved the China Securities Regulatory Commission to issue shares and raise matching funds to pay the transfer price of shares. In June 12, 2018, Dongcheng Branch of the Beijing Administration for Industry and Commerce approved the change of shareholders of Hua Qi communications. The 99.997% stake in Hua Qi communications, which was held by Hua Qi communications's original shareholder, has been transferred to the company's name. The cash was partially delayed because of the failure of the company to raise funds.

The original shareholder of huatchi communication, Shenzhen Junfeng venture capital fund management Co., Ltd. (representing the Feng Hua Yi emerging industries investment fund) (the "Junfeng fund") applied to the Shenzhen intermediate people's Court of Guangdong province (the "Shenzhen intermediate people's court") in December 2018 to freeze the account of the company's Beijing high rise Data System Co., Ltd. (Beijing high number), freezing the capital of 79 million 990 thousand yuan, and freezing the term from December 25, 2018 to December 24, 2019. The case number is (2018) Guangdong 03 Financial Security No. 203.

In April 22, 2019, the company received the "Notice of respondent" and the relevant legal documents issued by the Shenzhen intermediate people's Court (2019) in Guangdong 03 early Republic of China, and the relevant legal documents were issued by the Junfeng fund. The company and the Beijing high number were jointly accused by the company to handle the share transfer fund and the corresponding interest, and the Beijing high number was jointly liable for all the debts of the company and all the litigation costs of the company's debts. "831"

The company and the Beijing High Court filed a complaint against the jurisdiction of the case. The Shenzhen intermediate people's Court issued (2019) 831 civil code No. 831 in Guangdong and early Republic of China:

1. Dissenting the objection raised by Gaosheng holding to the jurisdiction of this case;

Two, dissenting the objection raised by Beijing high number to the jurisdiction of this case.

The company and the Beijing High Court refused to accept the results of the ruling of the Shenzhen intermediate people's court, and appealed to the Guangdong Provincial Higher People's court. The higher people's Court of Guangdong province formed a collegial panel in accordance with the law and heard the case.

The company learned from the Chinese referee's network that the Guangdong Provincial Higher People's Court issued a civil order No. 2019 (No. 319).

First, maintain the first instance of No. 831 of the Shenzhen intermediate people's Court (2019), Guangdong, 03 and early Republic of China, that is, "dissenting the objection raised by Gaosheng holding company to the jurisdiction of this case".

Two, revoke the Shenzhen intermediate people's Court (2019) No. 03 of the early 03 of the Republic of China, second of the original trial order, that is, "objection to Beijing Gaosheng company's jurisdiction over the case", and the prosecution of Shenzhen Junfeng Venture Capital Management Co., Ltd. to Beijing Gaosheng data system Co., Ltd. This ruling is final adjudication.

At this point, the plaintiff Junfeng fund's lawsuit against Beijing subsidiary of the company's subsidiary was rejected.

As of December 25, 2019, Beijing's senior account was frozen thawed by the Junfeng fund, which was used to pay for the transfer of the original share ownership of Hua Qi communications, such as Junfeng fund.

According to the final ruling of the higher people's Court of Guangdong Province, the Junfeng fund has abolished the high number related litigation in Beijing. For the company's ruling, the company is actively taking measures to properly handle the relevant matters and safeguard the legitimate rights and interests of the company and the majority of shareholders in accordance with the law. The impact of this lawsuit on the company's current profits or subsequent profits is uncertain.