Shanghai Stock Exchange: La Chapel May Be Terminated

Recently, Xinjiang La chapel Clothing Co., Ltd. (hereinafter referred to as "La chapel") announced that due to the company's negative net assets audited in 2020, the company's A-share stock has been warned of delisting risk by Shanghai Stock Exchange, and has not been withdrawn.

According to the preliminary accounting of the financial department of the company, it is estimated that the net assets of the Company attributable to the shareholders of the listed company at the end of 2021 are - 1.2 billion yuan to - 1.6 billion yuan. At the same time, as the company's 2020 annual financial report has not been eliminated, the company's 2021 annual financial report may be issued a non unqualified audit report. According to the relevant provisions of the Listing Rules of Shanghai Stock Exchange, the listing of a shares of the company may be terminated by Shanghai Stock Exchange.

It is understood that the La chapel brand was founded in 1998, and its main business scope includes wholesale and retail of clothing, shoes and hats products. It was listed on the Hong Kong Stock Exchange in 2014 and landed in the A-share market in 2017. Since 2022, La chapel has issued several risk warning announcements of the company's A-share listing termination.