Dabeinong receives the inquiry letter and needs to explain that it believes that there is no violation...

On June 21, Dabeinong received an inquiry letter from the Shenzhen Stock Exchange for its annual report

The 2020 annual report shows that the actual amount of guarantees incurred by Dabeinong during the reporting period was 4.

The Shenzhen Stock Exchange pointed out that on November 13, 2020, Dabeinong had disclosed an announcement that the holding subsidiary Rongchang Breeding pledged its 20 million shares of Shandong Wudi Rural Commercial Bank to Sijiqing on November 17, 2016.

In addition, on March 14, 2020, Dabeinong also disclosed that Rongchang Breeding was its original actual controller related parties Binzhou Rongchang Agriculture and Animal Husbandry Technology Co.

Regarding the above guarantees, the Shenzhen Stock Exchange requires Dabeinong to explain why the Wudi Rural Commercial Bank’s equity pledge procedures have not been cancelled, and whether there are other loans or agreements; whether Dabeinong has been required during the guarantee period for the 70 million yuan counter-guarantee of Rongchang Breeding assume responsibility for counter-guarantee, whether DBN actual controller has issued letter of commitment to its priority of payment matters

At the same time, Dabeinong also needs to explain whether the reasons for its determination that there are no illegal external guarantees are sufficient, the current external guarantees and asset-liability ratios, and whether there are external guarantees and liquidity risks in related matters, and whether it is necessary for Dabeinong to continue its operation.