**: Viewpoint.com.
Opinion Network News:On February 6, SIIC, the indirect controlling shareholder of Shanghai Industrial Development Co., Ltd., received a disciplinary decision from the Shanghai ** Stock Exchange.
According to the announcement, SIIC Group indirectly acquired SIIC Development 6365% of the shares, signed the "Commitment Letter to Avoid Intra-industry Competition", but since the expiration of the commitment period in July 2019, the issue of intra-industry competition has not been resolved as promised. As a result, the Shanghai Stock Exchange issued a notice of criticism to SIIC and recorded it in the integrity file of the listed company.
The SSE pointed out that SIIC's commitment to resolving peer competition has a significant impact on the company's daily operations and subsequent business development. SIIC failed to actively take effective measures to respond to and resolve the relevant issues, and the relevant reasons alleged by SIIC were not sufficient to constitute a reasonable reason to reduce or exempt its liability for violations.
The Shanghai Stock Exchange emphasizes that shareholders of listed companies should strictly abide by laws and regulations and the business rules of the exchange, fulfill their public commitments in a timely manner, protect the rights and interests of listed companies, and consciously maintain market order. SIIC said that it will continue to pay attention to the progress of the above events and fulfill its information disclosure obligations in a timely manner.