ST Shengda: Former shareholder misappropriation issue remains

Sichuan Shengda Forestry Industry (SZSE:002259) announced that the issue of fund misappropriation and illegal guarantees by its former controlling shareholder, Shengda Group, remains unresolved. As of the disclosure date, the outstanding amount of funds misappropriated by Shengda Group is approximately CNY 92,115.93 thousand, representing 375.88% of the company's latest audited net assets. Additionally, the company has undisclosed guarantees for Shengda Group's external borrowings totaling CNY 6,125.00 thousand, accounting for 24.99% of the company's latest audited net assets. The company's stock is currently subject to other risk warnings due to the aforementioned issues, and it will continue to disclose progress updates monthly. The company urges investors to pay attention to investment risks. There has been no progress in repayments since the last announcement.