*St Carey (002072): The Creditor Wang Jianwei Applied For Reorganization And Has Not Received The Relevant Judicial Documents Of The Court

St Carey (002072. SZ) announced that on December 11, 2020, the company received the notice on application for reorganization from the creditor Wang Jianwei, and learned that the creditor had applied to the intermediate people's Court of Jingmen City, Hubei Province for reorganization of the company, and further supplementary materials were being provided according to the court's telephone notice.

According to the announcement, the creditor is the executor of Dezhou intermediate people's Court of Shandong Province (2014) dzzz No. 277 case, and enjoys the creditor's rights confirmed by the effective legal documents to the company and has not been paid off. As of the current date, the company's debts to creditors totaled 8.36 million yuan.

According to the relevant provisions, if the court accepts the creditor's application for reorganization of the company, the court will appoint the administrator, and the creditor will declare the creditor's rights to the administrator according to law. The manager or the company shall formulate the draft company reorganization plan within the prescribed time limit and submit it to the creditors' meeting for deliberation and voting. The creditors of the company are paid off according to the reorganization plan approved by the court. If the draft reorganization plan cannot be approved by the court ruling, the court will terminate the reorganization procedure of the company and declare the company bankrupt.

As of the date of this announcement, the company has not received the judicial documents such as the ruling of the intermediate people's Court of Jingmen City, Hubei Province on the above reorganization application. Whether the above reorganization application can be accepted by the court and whether the company will enter the reorganization procedure is still uncertain.