countercade| Shenzhen Stock Exchange issued a supervision letter to Jiangsu Baichuan High-Tech New Materials Co., Ltd.

May 24, 2024countercade, Shenzhen Stock Exchange issued a supervision letter to Jiangsu Baichuan High-Tech New Materials Co., Ltd.: On January 30, 2024, your company disclosed the "2023 Annual Results Forecast", and it is estimated that the company's net profit attributable to shareholders of listed companies in 2023 will be a loss of 400 million yuan to 3 million yuancountercade.60 million yuan, net profit after deducting non-recurring gains and losses is a loss of 425 million yuan to 385 million yuan. On April 30, the "2023 Annual Report" disclosed by your company showed that the audited net profit attributable to shareholders of listed companies in 2023 was a loss of approximately 466 million yuan, and the net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was a loss of approximately 487 million yuan. There is a large difference between the expected net profit in your company's performance forecast and the audited net profit, and the performance forecast disclosure is inaccurate. Your company's relevant behavior violates the provisions of Articles 1.4, 2.1.1 and 5.1.3 of the Stock Listing Rules of this Stock Exchange. Zheng Tiejiang, Chairman of your company, Jiang Guoqiang, General Manager, and Cao Cai 'e, Chief Financial Officer, failed to fulfill their duties and perform their duties of integrity and diligence, and were mainly responsible for the company's violations, violating Articles 1.4, 2.1.2, 4.3.1, and 5.1.9 of the Stock Listing Rules of the Stock Exchange. Our firm hopes that your company and all directors, supervisors, and senior management personnel will conscientiously learn lessons, make timely rectification, and prevent the recurrence of related problems.

As of press time, the market value of Baichuan shares is 7.1 billion yuan.

(Article source: Daily Economic News)