Zhitong Financial APP News, Dianchi Water (03768) issued an announcement that according to the relevant agreement on Mutual Trust No. 5 asset management contract and the supplementary agreement on the extension of asset management contract, the Mutual Trust No. 5 asset management plan purchased by the company has expired on April 10, 2022. As of the maturity date, the remaining assets under Mutual Trust No. 5 asset management plan are accounts receivable claims with a book value of about RMB 317 million, and the asset manager shall, in accordance with the agreement of Mutual Trust No. 5 asset management contract, allocate the current assets under the Mutual Trust No. 5 asset management plan to the company as of the maturity date, and assist the company in going through the relevant asset transfer procedures.
According to the relevant provisions of the transfer contract of accounts receivable signed between the asset manager and Kunming Agricultural Development Investment, after the company has obtained the claims on accounts receivable, Kunming Agricultural Development Investment may continue to require Kunming Agricultural Development Investment to buy back the claims of accounts receivable in accordance with the contract for the transfer of accounts receivable. At the same time, Kunming Dianchi Investment Co., Ltd. (Kunming Dianchi Investment) has also agreed and issued a letter of guarantee to provide joint and several liability guarantee for Kunming Agricultural Development Investment in respect of repurchase obligations under the contract for the transfer of accounts receivable.
In accordance with the relevant agreements of the accounts receivable transfer contract, the company will actively communicate with Kunming agricultural development investment and urge Kunming agricultural development investment to fulfill the obligation of buying back accounts receivable claims. At the same time, urge Kunming Dianchi investment to fulfill its joint and several guarantee obligations as guarantors. The company will take further measures such as litigation, arbitration and asset preservation to protect the company's rights and interests according to the situation.
As of the date of this announcement, the company has no other purchases of wealth management products.