There Are Many Lawsuits Against Defaulting Bonds.

In January 14th, VIP bird Limited by Share Ltd (hereinafter referred to as "noble bird") issued a lawsuit involving the announcement that, because the company failed to pay the principal and interest of the "14 noble bird" corporate bonds, Shanghai Hongxin Cci Capital Ltd, state Yuan Securities Limited by Share Ltd and Yunnan Gago Ni Equity Investment Fund Management Co., Ltd. filed a lawsuit against the court respectively. In recent days, you have received legal documents such as "civil complaint", "Notice of action", "summons", served by the Shanghai financial court, the Hefei intermediate people's Court of Anhui province and the Guandu District People's Court of Kunming Province, Yunnan province.

It is reported that the sum of the principal and interest involved in the three cases totaled 315663910 yuan and overdue interest, litigation costs and property preservation fees. At present, the lawsuit in the case has been filed and has not yet been heard. According to the announcement, the company failed to pay the bond principal and interest to the "14 noble birds" corporate bond holders on 3 December 2019, in accordance with the agreement of the Limited by Share Ltd issued the 2014 corporate bond prospectus, which would damage the legitimate rights and interests of the "14 noble birds" corporate bondholders. The bondholders have the right to demand the company to pay the principal and interest of the maturity bonds immediately, to pay the overdue interest, and to assume the reasonable fees for the bondholders to advocate the realization of the lawyer's fees for claims. Due to the fact that the case has not yet been tried, it is not possible to accurately judge the impact of this lawsuit on the company's current profits or future profits.