Gelonghui, September 11, 丨 ST Tianlong (300029.SZ) announced that on August 19, 2022, the company received the “Information Note on the Reasons for the Freezing of Tianlong Optoelectronics Shares Held by Dayou Holdings Co., Ltd.” The details are as follows: “On March 30, 2020, Dayou Holdings signed a “Cooperation Framework Agreement”. The “Cooperation Framework Agreement” stipulates dispute resolution, protection of Tianlong Optoelectronics's rights, and Chen Hua will fulfill a series of honest and cooperation obligations during the acquisition of Tianlong Optoelectronics by Dayou Holdings and after the acquisition is completed. Chen Hua was given RMB 10,000 million.
As of the date of response to this letter, Dayou Holdings has paid Chen Hua 35 million yuan. Due to a dispute between Dayou Holdings and Chen Hua over the payment of funds under the Cooperation Framework Agreement, Dayou Holdings has yet to pay the remaining 65 million yuan to Chen Hua. To this end, Chen Hua applied to the China International Economic and Trade Arbitration Commission for arbitration and requested that Dayou Holdings pay it. Before applying for arbitration, Chen Hua applied to the Changzhou Intermediate People's Court for asset preservation before arbitration, and the Changzhou Intermediate People's Court ruled to freeze 14,000,000 shares of Tianlong Optoelectronics held by Dayou Holdings. The judicial freezing of Tianlong Optoelectronics shares held by Dayou Holdings will not currently lead to a change in Tianlong Optoelectronics's controlling shareholders, and there is currently no risk that the shares will be forcibly transferred. Dayou Holdings will actively participate in the above arbitration cases and communicate and negotiate with Chen Hua to actively protect the legitimate rights and interests of our company and your company in accordance with the relevant provisions of the “Cooperation Framework Agreement” signed by both parties, so as to promote the speedy resolution of the dispute.
Your company is requested to disclose relevant information in accordance with the requirements of laws and regulations.
“As of the date of this announcement, Dayou Holdings, the controlling shareholder of the company, held a total of 25,598,494 shares of the company, with a shareholding ratio of 12.80%. The number of shares judicially frozen in the above case was 14,000,000 shares, accounting for 54.69% of the company's shares and 6.98% of the company's total shares.
Recently, the company received a notice from Dayou Holdings. It has received a notice from the China International Economic and Trade Arbitration Commission on the “Notice Extending the Time for Issuance of the Decision in the DS2021571 Cooperation Framework Agreement Dispute Case” to extend the time limit for the ruling in the above arbitration case until October 10, 2023.