Sifangda: Announcement on Progress of Major Asset Restructuring

Stock code: 300179 Stock abbreviation: Sifangda Announcement No.: 2016-057
Henan Sifangda Superhard Materials Co., Ltd. Announcement on Progress of Major Asset Restructuring

The company and all members of the board of directors guarantee that the contents of the announcement are true, accurate and complete, and there are no false records, misleading statements or major omissions.
Henan Sifangda Superhard Materials Co., Ltd. (hereinafter referred to as “the company”) is planning a major asset restructuring and plans to purchase related assets in the diamond tool and product industry. Upon application, the company's stock (stock abbreviation: Sifangda, stock code: 300179) has been suspended since the market opened on the afternoon of July 4, 2016, and on July 5, 2016, the “Announcement on the Planning of Suspension of Major Events” was issued. On July 9, 2016, the “Notice on the Suspension of Major Events Suspension” was issued. On July 15, 2016, the Announcement on the Suspension of Major Assets Reorganization was issued. On July 22, 2016 and July 29, 2016, Announcement on the Progress of Major Asset Restructuring, Announcement on the Progress of Major Asset Restructuring and Postponement of Resumption of Trading on August 2, 2016, released on August 9, 2016, August 16, 2016, August 23, 2016 Announcement on Progress of Major Asset Restructuring, Announcement on Progress of Major Asset Restructuring and Postponement of Resumption of Trading on August 30, 2016, Announcement on Progress of Major Asset Restructuring on September 6, 2016, 2016 On September 13, the “Announcement on the Progress of Major Asset Restructuring and the Resumption of Resumption of Trading” was issued. On September 20, 2016, the “Notice on the Progress of Major Asset Restructuring” was issued.
The underlying assets to be purchased for this major asset restructuring are all the shares of Yangling Meichang New Materials Co., Ltd. (hereinafter referred to as “Yangling Meichang”). Established in July 2015, Yangling Meichang has a registered capital of RMB 11 million and is mainly engaged in the research and development, production and sales of diamond cutting lines.
At present, the company and intermediaries and other related parties are in full compliance with the relevant regulations of the China Securities Regulatory Commission and the Shenzhen Stock Exchange and other regulatory agencies, and fully promote the work of this major asset restructuring. The order is carried out, and the specific acquisition plan and payment method are being negotiated and communicated. Due to the uncertainty of this matter, in order to ensure the smooth progress of this restructuring, safeguard the interests of investors and avoid abnormal fluctuations in the company's stock prices, the company held the 21st meeting of the third board of directors on September 12, 2016. , deliberation and approval of the "Proposal on the Company's Planning for Major Asset Restructuring Applications to Continue Suspension of Trading".
After the above proposal is reviewed and approved by the 2nd Extraordinary General Meeting of Shareholders in 2016, the company will apply to the Shenzhen Stock Exchange for an extension of the resumption of trading. It is expected that the board of directors will be convened before January 4, 2017 to review the major asset restructuring plan or draft report. Promptly announce and resume trading.
During the suspension period, the company will issue a major asset restructuring announcement every 5 trading days in strict accordance with the relevant laws and regulations. There is still uncertainty in this major asset restructuring. Investors are advised to pay attention to the company announcement and pay attention to investment risks.
Special announcement.

Henan Sifangda Superhard Materials Co., Ltd. Board of Directors

September 26, 2016