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    38   CNE100000320

FIRST TRACTOR COMPANY LIMITED

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First Tractor : ANNOUNCEMENT ON THE PROGRESS OF JUDICIAL LIQUIDATION OF A WHOLLY-OWNED SUBSIDIARY (in PDF)

06/11/2021 | 09:44am EST

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

ANNOUNCEMENT ON THE PROGRESS OF JUDICIAL LIQUIDATION OF A WHOLLY-OWNED SUBSIDIARY

The filing of application to local court in France for judicial liquidation by YTO France SAS (hereinafter referred to as "YTO France"), a wholly-owned subsidiary of First Tractor Company Limited (hereinafter referred to as the "Company"), was considered and approved at the 29th meeting of the eighth session of the board of directors of the Company. For details, please refer to the Announcement on Application for Judicial Liquidation by a Wholly-Owned Subsidiary of First Tractor Company Limited published by the Company on the website of The Stock Exchange of Hong Kong Limited on 13 May 2021.

YTO France filed an application for judicial liquidation to the Commercial Court of Chaumont, Haute-Marne, France on 19 May 2021 and received a judgment on 11 June 2021 which granted the permission to commence judicial liquidation procedures against YTO France and appointed a special judge, liquidator and other designated persons to formulate a list of declared debts and carry out an accurate inventory and quantitative valuation of the property held by YTO France. Pursuant to the relevant French laws, the term within which the judicial liquidation review procedures has to be completed is set to be 24 months.

The Company will disclose relevant information in a timely manner based on the development of the judicial liquidation of YTO France. Investors are advised to be aware of the investment risks involved.

By Order of the Board

FIRST TRACTOR COMPANY LIMITED*

YU Lina

Company Secretary

Luoyang, the PRC

11 June 2021

As at the date of this announcement, the Board comprises Mr. Li Xiaoyu (Chairman) and Mr. Liu Jiguo as executive Directors; Mr. Li Hepeng, Mr. Xie Donggang and Mr. Zhou Honghai as non-executive Directors; and Ms. Yang Minli, Ms. Wang Yuru and Mr. Edmund Sit as independent non-executive Directors.

  • For identification purposes only

Disclaimer

First Tractor Company Limited published this content on 11 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 June 2021 13:43:03 UTC.


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Financials
Sales 2020 7 582 M 1 196 M 1 196 M
Net income 2020 280 M 44,2 M 44,2 M
Net cash 2020 1 737 M 274 M 274 M
P/E ratio 2020 13,5x
Yield 2020 1,96%
Capitalization 13 843 M 1 777 M 2 183 M
EV / Sales 2019 0,65x
EV / Sales 2020 0,89x
Nbr of Employees 7 506
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Managers and Directors
Ji Guo Liu General Manager & Executive Director
Ye Su Chief Financial Officer
Xiaoyu Li Chairman
Yu Yang Chairman-Supervisory Board
Min Li Yang Independent Non-Executive Director
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