*ST Gaosheng (000971): Progress Of Bankruptcy Reorganization Of Second Largest Shareholder

Stock Code: 000971 securities short: *ST, Gao Sheng Announcement No.: 2019-86

Gaosheng Cmi Holdings Ltd, the second largest shareholder of the company, LAN Ding Industrial (Hubei) Co., Ltd.

Announcement of progress in bankruptcy reorganization

All members of the company and the board of Directors ensure that the contents of the announcement are true, accurate and complete, without false records, misleading statements or major omissions.

Gaosheng Cmi Holdings Ltd (hereinafter referred to as "company") published a notice in July 10, 2019 on the designated information disclosure media about the second largest shareholder of the company, the blue Ding Industrial (Hubei) Limited company, which was adjudication of bankruptcy reorganization application by the court (Bulletin number: 2019-68). The second largest shareholder of the company, LAN Ding Industrial (Hubei) Co., Ltd. (hereinafter referred to as "blue tripod industry") is unable to repay its debts due to insolvency and has filed for bankruptcy reorganization with the Xiantao people's Court of Hubei province (hereinafter referred to as "Xiantao court"). In July 3, 2019, Xiantao court issued (2019) "civil ruling" 9004 "Shen Shen 2", and adjudication accepted the application for bankruptcy reorganization of LAN Ding. In July 8, 2019, Xiantao court issued the "decision" (2019), e 9004 break 2-1, designated the blue Ding Industrial liquidation team as the manager of bankruptcy reorganization (hereinafter referred to as the "manager"), and Xia Shaolin, director of the national Hao lawyer (Wuhan) office as the person in charge.

1. Progress in bankruptcy reorganization of LAN ding industry

The company has recently received the Notice No. 2019 from the blue Ting industrial management company (No. 03), "No. 03", "notice". The notice reads, "according to the provisions of article twenty-fifth of the bankruptcy law of the People's Republic of China, the administrative personnel shall perform their duties according to law. I hereby inform you that, during the bankruptcy proceedings, the manager shall exercise the rights of shareholders in the blue Ting industry. If you hold shareholder meetings and other matters, you should notify the manager in advance in accordance with the laws, regulations and the company's articles of association.

Two, the impact on Listed Companies

In July 24, 2019 and July 27, 2019, the company published the announcement on the progress of judicial auction of shareholders' shares (announcement number: 2019-78) and "Notice of changes in stockholders' equity" (Bulletin number: 2019-80) in the designated information disclosure media, and the high search Cci Capital Ltd of Qianhai, Shenzhen, held the highest bid price in the open bid of Gaosheng Cmi Holdings Ltd (securities code: 000971) 55360000 shares in the auction platform of Shenzhen in the 23 month of 2019 on Z8924 23. The auction involves subsequent payment of auction balance, court dissolution, equity transfer and equity changes.

As of now, the blue Ting industry holds 145538582 shares of the company, all of which are sold on the stock of unlimited circulation, accounting for 13.37% of the total share capital of the company. If the final auction is completed, the shares of the blue holding company will be reduced to 90178582 shares, and the number of shares held after the reduction will be 8.28% of the total share capital of the company.

LAN ding industry and the company's largest shareholder Beijing Yu Chi Reed Investment Co., Ltd. is controlled by the same actual controller. Whether the subsequent reorganization of LAN ding industry will cause changes in the control of the company and cause other uncertainties is uncertain.

The influence of the restructuring process on the listed companies has great uncertainty. The company will continue to pay attention to the progress of the matter and fulfill the obligation of information disclosure in accordance with relevant regulations.

Three, other tips

The information disclosure media designated by the company are China Securities Daily, Shanghai Securities Daily, securities times, securities daily and www.cninfo.com.cn. All the information of the company is based on the announcement made by the company in the above media.

We invite investors to pay close attention to investment risks.

Notice hereby

Gaosheng Cmi Holdings Ltd board of directors

Two O 19 July 31st