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on the evening of september 6, st jingang (600190.sh, share price 1.47 yuan, market value 2.943 billion yuan) issued a major litigation announcement, suing 12 companies in court, requesting the defendants to pay for goods or return advance payments, with a total amount of about 770 million yuan involved. in order to prevent the above 12 defendants from transferring property, which would make it difficult to enforce the judgment in the future, st jingang also applied to the court for property preservation during the lawsuit. at present, the court has frozen all the defendants' bank account deposits of 3.9204 million yuan.

according to the announcement, the specific disputes between st jingang and the 12 defendants are similar, all of which involve st jingang fulfilling its contractual obligations first, such as st jingang paying for goods first, but the counterparty failing to fulfill its contractual obligations to deliver goods within the delivery period, or st jingang delivering goods first, but the counterparty failing to pay the full amount within the payment period. st jingang said that the case has not yet been heard in court, and the specific impact of the above litigation matters on the company's current or future profits is still uncertain.

it is worth noting that st jingang did not disclose its semi-annual report within the statutory period this year. on the evening of august 30, st jingang announced that the company's semi-annual report was not approved by the audit committee of the board of directors. the reason is that since the company received the "administrative penalty and market ban advance notice" from the china securities regulatory commission, it has made every effort to rectify the situation, but failed to fully rectify the situation. the semi-annual report cannot truthfully reflect the company's actual operating conditions.

in may this year, the china securities regulatory commission issued a "preliminary notice of administrative penalty and market ban" to st jingang. the china securities regulatory commission found that in order to increase revenue and profits and meet bank loan needs, jinzhou port had conducted bulk trade business with seven companies, but without commercial substance. at the same time, from 2018 to 2021, jinzhou port conducted trade business with the above-mentioned companies to inflate operating income, operating costs and total profits, resulting in false records in the annual reports from 2018 to 2021.

in august, st jingang director qu wei applied to resign from the company's director and member of the board's special committee due to work adjustments; recently, st jingang independent director yang hua also applied to resign from the company's independent director position due to personal reasons. the announcement shows that in may this year, qu wei and yang hua were elected as directors and independent directors of st jingang's new board of directors, and both were elected as members of the board's audit committee. yang hua also serves as the chairman of the nomination committee.