Suning Appliance Group Receives Supervision Letter from Shenzhen Stock Exchange

Original Title: Suning Appliance Group Receives Supervision Letter from Shenzhen Stock Exchange

Summary

[Suning Appliance Group Receives Supervision Letter from Shenzhen Stock Exchange]Suning Appliance Group, a shareholder of Suning.com holding more than 5% of its shares, received a supervisory letter from the Shenzhen Stock Exchange. According to the regulatory letter, Suning Appliance Group has recently reduced its holdings of Suning Tesco by a total of 19.50 million shares (accounting for 0.21% of the company’s total share capital) due to partial stock pledge repurchase transactions that triggered the default clauses agreed in the agreement. The company did not announce the relevant shareholding reduction plan 15 trading days before the first occurrence of the shareholding reduction event. The above actions are suspected of violating the “Stock Listing Rules (Revised in 2020)” and the “Implementation Rules for Shareholding Reduction of Shareholders, Directors, Supervisors and Senior Management of Listed Companies”. (Securities Times)

　　Suning Online MarketHolding more than 5%shareholderSuning Appliance Group received a supervisory letter from the Shenzhen Stock Exchange.The regulatory letter stated that, recently, Suning Appliance GroupPledgeformulaRepurchaseThe breach of contract stipulated in the transaction trigger agreement was reduced through centralized bidding.Suning Online Market19.5 million shares (accounting for 0.21% of the company’s total share capital).The company has not been within 15 trading days before the first occurrence of this reductionannouncementRelevant shareholding reduction plan. The above actions are suspected of violating the “Stock Listing Rules (Revised in 2020)” and the “Implementation Rules for Shareholding Reduction of Shareholders, Directors, Supervisors and Senior Management of Listed Companies”.

(Source: Securities Times)

(Editor in charge: DF545)