Wanjie Hi-Tech: It suffered losses for two consecutive years, and was given special treatment by delisting risk warning.
Wanjie Hi-Tech (600223) is scheduled to publish the summary of the company's 2006 annual report on April 12, 2007. Due to the company's losses for two consecutive years, according to the relevant regulations, the company's shares were given special treatment of delisting risk warning on April 13, 2007, and the company suspended trading for one day on April 12, 2006.
The types, abbreviations and securities codes of the stocks subject to delisting risk warning.
The company's stock is A-share listed on Shanghai Stock Exchange, referred to as * ST Wanjie, with the stock code of 600223. The price of the stock is limited to 5%.
The main reasons for implementing delisting risk warning
The company lost money for two years in a row.
Opinions and specific measures of the board of directors of the company on striving to cancel the delisting risk warning;
Due to the influence of polyester industry background, the company suffered operating losses in 2006, mainly as follows: 1. In 2006, the international crude oil price was still at a high level, and the prices of PTA and EG, the main raw materials of the company's polyester products, remained high, which led to the increase of the company's production costs; 2. Affected by the market downturn in the domestic polyester industry, the prices of polyester filaments and staple fibers of the company's products continued to decline, and sales were weak; 3. The polymerization unit of Shandong Zibo Tongyu New Materials Co., Ltd. and the polyester staple fiber production line of Zibo Boyi Fiber Co., Ltd., a subsidiary of the company, entered the normal maintenance stage in early April. Due to the lack of liquidity, the company has not resumed production by the end of this reporting period, which directly affects the output and sales of polyester chips and polyester staple fibers. Faced with the above difficulties, the board of directors of the company will take active measures to ensure the company's sustained and stable production and operation. First, with the support of governments at all levels, we will gain the understanding of relevant creditors and jointly strive for relevant national policies to solve the difficulties we face. The second is to ensure that Agricultural Bank and Industrial and Commercial Bank of China continue to cooperate with the company and maintain the normal operation of existing enterprises. Third, by strengthening the internal management of enterprises, tapping the potential to reduce consumption, minimizing the company's production costs, with the ultimate goal of improving efficiency, the company can achieve sustained and stable operation.
Risk warning that stocks may be suspended from listing.
If the company fails to reverse the loss at the end of this year, the company's shares may be suspended or terminated.
The main ways for companies to accept investor consultation during delisting risk warning.
Address: Wanjie High-tech Securities Department, Boshan Economic Development Zone, Zibo, Shandong.
Postal code: 2552 13
Secretary of the Board: Sun Guoqing.
Representative of Securities Affairs of the Board of Directors: Lv Chunyan
Tel: 0533-3585809
Fax: 0533-3585836
E-mail :wanjie@wanjie.com.
Internet address designated by China Securities Regulatory Commission for publishing company-related announcements:
The board of directors of the company drew investors' attention to investment risks.