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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Qingling Motors Co., Ltd.    1122   CNE1000003Y4

QINGLING MOTORS CO., LTD.

(1122)
  Report
End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 09/29
1.35 HKD   +0.75%
09/17QINGLING MOTORS : 2020 Interim Report
PU
08/26QINGLING MOTORS : Announcement of interim results 2020
PU
08/06QINGLING MOTORS : Voluntary announcement - litigation update
PU
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Qingling Motors : INSIDE INFORMATION - LITIGATION

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03/03/2020 | 05:36am EDT

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.

(a Sino-foreign joint venture joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 1122)

INSIDE INFORMATION

LITIGATION

This announcement is made by Qingling Motors Co. Ltd (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09 of The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcements of inside information of the Company dated 29 August 2019 and 20 December 2019 (the "Announcements"). Unless otherwise defined, terms defined in this announcement shall have the same meanings as those defined in the Announcements.

As disclosed in the Announcements, the Company has applied to the Supreme People's Court of the PRC for retrial (the "Retrial Application") of the Appeal Judgment. The PRC legal adviser of the Company received a notice from the Supreme People's Court of the PRC on 25 February 2020 regarding the acceptance of the Retrial Application. The Retrial Application has now been formally filed and the results will be reached within the three-month trial period. If the Retrial Application is approved, the Retrial Application will proceed to the retrial process.

The Company will make further announcement(s) to inform the Company's shareholders and potential investors of the significant progress of the 2015 Litigation as and when appropriate in accordance with the requirements of the Listing Rules.

Based on the opinion of the PRC legal adviser and the information currently available, the Board expects that the 2015 Litigation will have no material impact on the overall financial or operating conditions of the Group.

- 1 -

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board

Qingling Motors Co. Ltd

LEI Bin

Company Secretary

Chongqing, the PRC, 3 March 2020

As at the date of this announcement, the Board comprises 11 Directors, of which Mr. LUO Yuguang, Mr. HAYASHI Shuichi, Mr. MAEGAKI Keiichiro, Mr. ADACHI Katsumi, Mr. LI Juxing, Mr. XU Song and Mr. LI Xiaodong are executive Directors and Mr. LONG Tao, Mr. SONG Xiaojiang, Mr. LIU Tianni and Mr. LIU Erh Fei are independent non-executive Directors.

- 2 -

Disclaimer

Qingling Motors Co. Ltd. published this content on 03 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 March 2020 10:35:04 UTC

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Financials
Sales 2019 4 723 M 693 M 693 M
Net income 2019 345 M 50,7 M 50,7 M
Net cash 2019 5 974 M 877 M 877 M
P/E ratio 2019 13,7x
Yield 2019 8,42%
Capitalization 2 947 M 432 M 432 M
EV / Sales 2018 -0,26x
EV / Sales 2019 -0,37x
Nbr of Employees 2 970
Free-Float 29,9%
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Managers
NameTitle
Shuichi Hayashi Vice Chairman & General Manager
Yu Guang Luo Chairman
Bin Lei Chief Financial Officer & Co-Secretary
Xiao Jiang Song Independent Non-Executive Director
Tao Long Independent Non-Executive Director
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