Shanghai Sanmao (600689): Progress Of Cooperative Fund Establishment By Subsidiaries

B 900922 three hair B shares

Bulletin of Shanghai San Mao enterprise (Group) Limited by Share Ltd on the establishment of funds by subsidiaries

The board of directors and all directors of the company guarantee that there is no false record, misleading statement or major omission in the contents of this announcement, and shall bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.

I. summary of matters

The Shanghai San Mao enterprise (Group) Limited by Share Ltd (hereinafter referred to as the "company") held the eighth fifth annual meeting of the board of directors in November 2, 2015, and deliberated and adopted the motion on the establishment of the Ningbo Meishan bonded port innovation No. 1 investment management partnership, which is to be established through cooperation, through the wholly owned subsidiary of Shanghai Jiya Venture Capital Co., Ltd.,. Funded by 50 million yuan, Ningbo Meishan bonded port area innovation Yi investment management partnership (limited partnership) (hereinafter referred to as "innovation one fund" or "fund") is set up for special investment in Shanghai river network project.

In October 2019, the company received the report on the major projects of the fund of the innovation fund No.1, and was informed that the innovation one fund has been awarded the Shanghai international economic and Trade Arbitration Commission (Shanghai International Arbitration Center) Award [(2019) Shanghai Trade Arbitration No. 0991]. It was decided that the Shanghai mutual investment management center (limited partnership), Fu Cairui, Yu Jie and Tang Xiao zhe should be appointed jointly. In the same direction, the innovation one fund pays the share repurchase principal of RMB 104397375 yuan and interest loss. In January 20, 2020, the company received the 2019 annual audit report of the innovation fund No.1 ([2020]489), confirming that the arbitration matters had entered the enforcement stage of the court.

(details of the items are published in the 22 days of November 3, 2015, January 9, 2016, June 4, 2016 and January 2020) in the Shanghai securities news, Hongkong Wen Wei Po and the Shanghai stock exchange website www.sse.com.cn.

Two. Progress in case implementation

1. Progress in the enforcement of arbitration cases

In April 21, 2020, the company passed the Chinese judgment document network (wenshu.court.gov.cn/) to the executive order of the first intermediate people's Court of Shanghai [[2019] Shanghai 01 holding 1607]. The main contents of the ruling are as follows:

The applicant Ningbo Meishan bonded area Lin Yi innovation investment management partnership (limited partnership) and the applicant Shanghai mutual enterprise management consulting partnership (limited partnership), Fu Cairui, Yu Jie, Tang Xiaozhe contract dispute arbitration case, Shanghai international economic and Trade Commission (2019) Shanghai trade arbitration number 0991 arbitration award has been legally effective. The right person Ningbo Meishan Free Trade Zone Yi Yi innovation No. 1 investment management partnership (limited partnership) applied for execution to Shanghai No. 1 Intermediate People's Court (hereinafter referred to as "one central hospital") on 20 November 2019, and requested the executor to fulfil his obligations under the effective legal document. The first hospital was put on record on the same day.

In the process of implementation, the application of the cancellation of arbitral awards by the Shanghai intercity enterprise management consulting partnership (limited partnership), Fu Cairui, Yu Jie and Tang Xiaozhe to the second intermediate people's Court of Shanghai is still under trial.

The court held that in the course of execution, the executor's application for revoking the arbitration award may terminate the execution procedure according to law. Accordingly, in accordance with the 519th provisions of the Supreme People's Court on the interpretation of the Civil Procedure Law of the people's Republic of China, the following are the following:

Terminate the execution procedure.

If the application executor finds that the executor has the property to be executed, he may apply again for execution.

This ruling shall become effective immediately after service.

2, innovation No.1 fund's explanation of court execution.

Upon enquiry of the above information, the company will verify the execution of the court immediately with the innovation one fund, and the fund will inform our division about the execution of the court. The main contents are as follows:

"In March 31, 2020, the execution court of the case, the first intermediate people's Court of Shanghai, ruled that the enforcement procedure should be terminated.

For the above matters, according to the ninth provision of the Supreme People's Court on strictly regulating the termination of this enforcement procedure: (Trial),

"After the termination of this enforcement procedure, the application executor finds that the executor has financial assets available for execution.

The court may apply to the Executive Court for resumption of execution. The application for resumption of execution shall not be limited by the time limit for application execution. If the enforcement of the court's verification is true, it shall be resumed. Within five years after the termination of this enforcement procedure, the Executive Court shall check the property of the executed person once every six months through the network execution control system, and inform the applicant of the result of the inquiry. If the conditions for resuming execution are met, the execution court shall resume the execution in time.

Based on the above legal provisions, this Shanghai intermediate people's court ruled that the termination of this enforcement procedure is not the end of the enforcement procedure of the above-mentioned arbitral award. Our company will apply to the execution court for restoration in accordance with the law, until the related debts are effectively discharged.

Three, risk warning

The company will fulfill the obligation of information disclosure in time according to the progress of the matter, and invite investors to pay attention to investment risk.

Notice hereby.

Shanghai San Mao enterprise (Group) Limited by Share Ltd

Two April 23rd two

Reference documents?

1, the enforcement decision of the first intermediate people's Court of Shanghai (2019), No. 01 of Shanghai 01.

2, Ningbo Meishan bonded port Lin Yi innovation No. 1 investment management partnership (limited partnership) issued by the "situation notes".