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[Litigation] 18 Energy Investment Y5: Yunnan Provincial Energy Investment Group Co., Ltd. Involved in Major Litigation

Time: January 9, 2020 23:01:51 Zhongcai
Original Title: 18 Energy Investment Y5 : Announcement of Major Proceedings of Yunnan Energy Investment Group Co., Ltd.


Bond code:
122391 Bond short name:
15 Cloud Energy Investment


Bond code:
136073 Bond short name:
15 Cloud Energy
02


Bond code:
135472 Bond short name:
16 Cloud Energy
01


Bond code:
145341 Bond short name:
17 Cloud Energy
01


Bond code:
145441 Bond short name:
17 Cloud Energy
02


Bond code:
143105 Bond short name:
17 Can cast
01


Bond code:
137053 Bond short name:
17 Cloud Investment
EB


Bond code:
143945 Bond short name:
17 Can cast
Y1


Bond code:
143954 Bond short name:
18 Can cast
Y1


Bond code:
127296/1580261 Bond short name:
15 Cloud Energy
/ 15 Cloud Energy Bond


Bond code:
143962 Bonds for short:
18 Can cast
Y3


Bond code:
143903 Bond short name:
18 Can cast
Y5


Bond code:
155368 Bond short name:
19 Can cast
01


Bond code:
162024 Bond short name:
19 Can cast
03








Announcement of Yunnan Provincial Energy Investment Group Co., Ltd. involved in major lawsuits





All directors of the company or persons with equivalent responsibilities guarantee that the contents of this announcement do not contain any false records, misleading statements or major omissions, and assume corresponding legal responsibility for the authenticity, accuracy and completeness of their contents.






I. Basic information of this lawsuit


Due to the dispute over the loan contract, Yunnan Energy Investment Group Co., Ltd. (hereinafter referred to as "our company",
" Yunnan Energy Investment
")
Cloud Energy Investment (Shanghai) Energy Development Co., Ltd. (hereinafter referred to as " Shanghai Energy
")
2. Shanghai Huaxin International Group Co., Ltd. (hereinafter referred to as "Shanghai Huaxin")
, Guoneng Commercial Group Co., Ltd. (hereinafter referred to as "Guoneng Commercial")
, Dazhiye (Shanghai) Co., Ltd., Shanghai Shengye Investment Center (Limited Partnership), Shanghai Shengye Investment Management Co., Ltd., Shenzhen Dasheng Agricultural Group Co., Ltd. (hereinafter referred to as "Dasheng Agriculture")
North Petroleum and Chemical Industry (Group)
Co., Ltd. (hereinafter referred to as "North Petroleum")
, Shanghai Straits Cloud Chuangfu Equity Investment Fund Co., Ltd. (hereinafter referred to as "Xiayun Chuangfu")
Shanghai Puhe Enterprise Management Co., Ltd.



Company (hereinafter referred to as "Shanghai Puhe")
Shaanxi Lian'an Energy Management Co., Ltd. (hereinafter referred to as "Lian'an Energy")
Filed a lawsuit requesting dissolution of the order and Cloud Energy Investment (Shanghai)
Energy Development Co., Ltd. signed the "Borrowing and Repaying Loan Agreement"; requesting that Yuneng Investment (Shanghai) Energy Development Co., Ltd. immediately return the loan principal to RMB
8
100 million yuan; ordered Yunneng Investment (Shanghai) Energy Development Co., Ltd. to pay the plaintiff
2018 year
March
From 21st
2018 year
July
Interest for the 31 days
15,516,650.52 yuan; and paid from
2018 year
August
Annual interest rate from 1 day to the date of actual repayment
10.5% overdue penalty interest and compound interest calculated; the remaining defendants were ordered to assume insurance liabilities. Yunnan Higher People's Court
2018 year
August
10 A case acceptance notice will be issued with the case acceptance number (
2018) Early Yunmin
147
number.



2019 year
June
On the 6th, the first instance of the Higher People's Court of Yunnan Province made the following judgment: 1. It was confirmed that the parties to the "Union and Repayment Loan Agreement" signed by Yunnan Energy Investment and Shanghai Energy had already signed
2018 year
July
The negotiation was terminated on the 31st; 2. Shanghai Energy paid to Yunnan Energy to invest the principal of the loan owed within 10 days after the judgment became effective.
800 million yuan and annual interest rate
5.25% calculated since
2018 year
March
From 21st
2018 year
July
Interest owed for the period ending 31 days
15,516,650.52 yuan, annual interest rate
10.5% calculated since
2018 year
August
Overdue penalty interest and compound interest from the 1st day to the date when the payment is actually repaid; 3. Shanghai Energy Investment Co., Ltd. shall pay the lawyer's fee within ten days after the effective date of this judgment
200,000 yuan, security guarantee fee
293,585.99
4. If Shanghai Energy is unable to fulfill the obligations determined in the above two or three judgments within the prescribed time, Yunnan Energy Investment will provide Shanghai Energy with a pledge to Shanghai Huaxin.
50% equity and Weihai Nanhai Poly Technology Defense Investment Center (Limited Partnership)
150 million yuan investment and its corresponding property share enjoy pledge rights and pledge



The price after the auction, sale or discount enjoys priority compensation; 5. If Shanghai Energy is unable to fulfill the obligations determined in the above two or three judgments within the prescribed time, Yunnan Energy Investment will provide the state energy pledged by China Energy Commercial United Holdings Limited
100% of the equity enjoys the right to pledge, and has the priority to be compensated for the price of the pledged property auctioned, sold or discounted; VI. Lian'an Energy is jointly and severally liable for the second and third debts of the above judgment owed to Yunnan Energy Investment by Shanghai Energy in this case. Shanghai Huaxin, Guoneng Commercial, Dasheng Agriculture, Northern Petroleum,
Xiayun Chuangfu, Shanghai Puhe, and Lian An Energy have the right to submit to Shanghai Energy
Recovery; 7. Dismissal of other lawsuits of Yunnan Energy Investment .



Second and second instance


As one of the defendants, Shaanxi Lian'an Energy Management Co., Ltd. filed an appeal against non-liability of joint and several guarantees,
Our company appealed to the defendant Da Real Estate (Shanghai) Co., Ltd. and Shanghai Shengying Investment Center (Limited Partnership) to assume compensation liability within the value of the collateral.

2019 year
December
On the 11th, the Fifth Circuit of the Supreme People's Court accepted the second trial of the case, and the case acceptance number was (
2019) Supreme People's Civil Law
Case No. 2025
2020
March
The trial will begin on the 24th.



The impact of litigation on the company's ability to pay debts


This lawsuit has no adverse impact on our company's daily management, production and operation, and solvency.
And relevant security measures have been taken. It is expected that some funds can be recovered through litigation and the scope of loss can be controlled.



Special announcement.













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