Core Viewpoint - The new "National Nine Articles" emphasizes strict rectification of financial fraud and fund occupation, with a focus on the implementation of delisting rules to address non-operational fund occupation issues in listed companies [1][5][6]. Summary by Relevant Sections Regulatory Changes - The China Securities Regulatory Commission (CSRC) issued opinions on strict enforcement of delisting systems, with the Shanghai and Shenzhen Stock Exchanges revising delisting rules to include fund occupation as a delisting condition [1][6]. - Since the implementation of the new delisting rules, a total of 8 companies have resolved fund occupation issues through various means, recovering over 8 billion yuan [1][6]. Company Actions - On August 18, 2023, ST Dongshi and *ST Huamei announced the completion of their fund occupation rectification, allowing their stocks and convertible bonds to resume trading [1][4]. - ST Dongshi's controlling shareholder and related parties repaid 1.954 billion yuan through investor compensation and equity transfer [1][3]. - *ST Huamei's controlling shareholder repaid 1.567 billion yuan, including 110.593 million yuan through dividend compensation and 1.556 billion yuan from the sale of all shares [1][4]. Impact of New Regulations - The new delisting rules have created a strong regulatory deterrent, compelling companies to clear large amounts of occupied funds before the deadline [5][6]. - The cases of ST Dongshi and *ST Huamei demonstrate the effectiveness of the "strict delisting for non-compliance" policy in urging controlling shareholders to repay debts [5][6]. Future Directions - The CSRC plans to enhance corporate governance rules and increase penalties for financial misconduct, aiming to improve the effectiveness of independent directors and encourage institutional investors to exercise their rights [7][8]. - Experts suggest a multi-faceted approach to prevent fund occupation, including improving corporate governance, enhancing monitoring systems, and implementing strict penalties for actual controllers [8].

Core Viewpoint - ST Dongshi has fully repaid the non-operating fund occupation of 387 million yuan, allowing its stock to resume trading on August 19 [1][2]. Group 1: Fund Repayment - As of August 17, the controlling shareholder, Dongshi Investment Co., and its affiliates repaid a total of 387 million yuan, resulting in a remaining balance of 0 yuan [2]. - The repayment was confirmed by Beijing Dehao International Accounting Firm through a special audit report [2]. - The repayment was part of a regulatory requirement to recover occupied funds by June 19, 2025, following a suspension of trading on June 20 [2]. Group 2: Restructuring Investment - On August 15, the company signed a restructuring investment agreement with 11 investors, including Shenzhen Fuli Industrial Development Co. and Beijing Zhongcheng Hehe Technology Development Center, committing to purchase a total of 500 million shares for 670 million yuan, at a price of 1.34 yuan per share [4]. - Beijing Daxing Investment Group, a state-owned enterprise, is participating in the restructuring investment and holds a total of 8,664,000 shares, representing 12.12% of the company's total shares [4]. Group 3: Uncertainties in Restructuring - The company is currently in the pre-restructuring phase, with uncertainties regarding its entry into formal restructuring procedures [5]. - The company has received a notice from the China Securities Regulatory Commission regarding an investigation into information disclosure violations, with no conclusive opinions or decisions received to date [5]. - There are risks associated with the restructuring investment agreement, including potential failure to fulfill investment obligations by the investors [5].

Core Viewpoint - The report provides a special audit on the non-operating fund occupation and repayment situation of the controlling shareholder and other related parties of Dongfang Shishang Driving School Co., Ltd, confirming that the financial information meets regulatory requirements [1][2]. Group 1: Audit Responsibilities - The management of Dongfang Shishang is responsible for the accurate and complete preparation and disclosure of the fund occupation and repayment situation [1]. - The registered accountants are responsible for providing a special audit opinion based on the audit procedures performed [1]. Group 2: Fund Occupation Summary - As of December 31, 2024, the total non-operating fund occupation by the controlling shareholder and other related parties amounts to 387.3445 million yuan [1][2]. - The occupation includes amounts from various related parties, with a significant portion attributed to Dongfang Shishang Investment Co., Ltd [2]. Group 3: Repayment Situation - The repayment of the non-operating fund occupation was completed through cash payments totaling 387.3445 million yuan by August 15, 2025 [3][4]. - The repayment involved multiple parties, including Beijing Jinhui Dingming Investment Management Co., Ltd, which contributed 60 million yuan, and Shenzhen Shenyuan Asset Management Co., Ltd, which contributed 8 million yuan [3][4].

证券代码：603377 证券简称：ST 东时 公告编号：临 2025-147 转债代码：113575 转债简称：东时转债 东方时尚驾驶学校股份有限公司 关于申请撤销部分其他风险警示暨继续被实施其他 风险警示的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ? 东方时尚驾驶学校股份有限公司（以下简称"公司"）此前因被控股股 东东方时尚投资有限公司（以下简称"东方时尚投资"）及其关联人非经营性占 用资金，余额达到最近一期经审计净资产绝对值 5%以上，且金额超过 1,000 万 元，未能在 1 个月内完成清偿或整改被叠加实施其他风险警示。现上述其他风险 警示情形已完全消除，公司已向上海证券交易所申请撤销对公司股票实施的相应 其他风险警示情形，最终申请撤销情况以上海证券交易所审核意见为准。 ? 本次申请如获上海证券交易所同意，公司股票仍存在其他被实施风险警 示的情形。 ? 截至本公告披露日，公司尚处于预重整阶段，并未收到法院关于进入重 整程序的相关法律文书，公司后续能否进入正式重整程序存在不确定性。根据《上 海证 ...

转债代码：113575 转债简称：东时转债 东方时尚驾驶学校股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 东方时尚驾驶学校股份有限公司（以下简称"公司"或"东方时尚"）第五 届董事会第三十次会议的会议通知于 2025 年 8 月 17 日以电话、电子邮件等形式 送达公司全体董事，会议于 2025 年 8 月 17 日以通讯表决方式召开。本次会议由 董事长孙翔女士主持。会议应参加董事 11 人，实际参加董事 11 人。本次会议的 召开符合有关法律、行政法规、部门规章、其他规范性文件和《东方时尚驾驶学 校股份有限公司章程》的有关规定，会议的召集、召开合法有效。 二、董事会会议审议情况 示的议案》 证券代码：603377 证券简称：ST 东时 公告编号：临 2025-146 方时尚驾驶学校股份有限公司控股股东及其他关联方非经营性资金占用及清偿 情况的专项审核报告》（德皓核字〔2025〕00001475 号），公司控股股东及其 关联方非经营性资金占用款项已全部清偿。 根据《上海证券交易所股票上市 ...

Group 1 - The company ST Dongshi (SH 603377) held its 29th meeting of the fifth board of directors on August 15, 2025, via communication methods [2] - The meeting reviewed the proposal to convene the first bondholders' meeting for "Dongshi Convertible Bonds" in 2025 [2] - For the year 2024, ST Dongshi's revenue composition was as follows: driving training industry accounted for 91.9%, retail industry 3.07%, other businesses 2.43%, other categories 2.21%, and leasing industry 0.37% [2]

转债代码：113575 转债简称：东时转债 东方时尚驾驶学校股份有限公司 关于召开"东时转债"2025 年第一次债券持有人会议 的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 证券代码：603377 证券简称：ST 东时 公告编号：临 2025-144 ? 根据《东方时尚驾驶学校股份有限公司公开发行可转换公司债券募集说 明书》 （以下简称"《可转债募集说明书》"）及《东方时尚驾驶学校股份有限公司 可转换公司债券持有人会议规则》 （以下简称"《债券持有人会议规则》"）相关规 定，债券持有人会议对表决事项作出决议，须经出席（包括现场、通讯方式参加 会议）本次会议并有表决权的债券持有人（或债券持有人代理人）所持未偿还债 券面值总额超过二分之一同意方为有效。 ? 根据《债券持有人会议规则》相关规定，债券持有人会议决议自表决通 过之日起生效，但其中需经有权机构批准的，经有权机构批准后方能生效。依照 有关法律、法规、《可转债募集说明书》和《债券持有人会议规则》的规定，经 表决通过的债券持有人会议决议对本期可转债全体 ...

证券代码：603377 证券简称：ST 东时 公告编号：临 2025-143 的议案》 公司拟于 2025 年 9 月 1 日上午 10 点召开"东时转债"2025 年第一次债券 持有人会议，召开地点在北京市大兴区金星西路 19 号公司会议室。 表决结果：11 票同意，0 票反对，0 票弃权，0 票回避。 东方时尚驾驶学校股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 东方时尚驾驶学校股份有限公司（以下简称"公司"或"东方时尚"）第五 届董事会第二十九次会议的会议通知于 2025 年 8 月 9 日以电话、电子邮件等形 式送达公司全体董事，会议于 2025 年 8 月 15 日以通讯方式召开。本次会议由董 事长孙翔女士主持。会议应参加董事 11 人，实际参加董事 11 人。本次会议的召 开符合有关法律、行政法规、部门规章、其他规范性文件和《东方时尚驾驶学校 股份有限公司章程》的有关规定，会议的召集、召开合法有效。 二、董事会会议审议情况 转债代码：113575 转债简称：东时转债 具体内容 ...

Group 1 - The company announced that its subsidiary, Hubei Dongfang Shanshi Driving Training Co., Ltd., has had its fundraising account frozen due to a legal dispute with Hubei Changwo Electric Power Co., Ltd. [1][2] - The freezing of the fundraising account is a result of a court's enforcement request related to a construction contract dispute [1][2] - The company stated that its production and operations are currently normal and that the freezing of the account will not have a significant adverse impact on its fundraising investment projects [2][3] Group 2 - The company is actively communicating with relevant parties to resolve the account freezing issue and restore normal operations as soon as possible [2] - As of the announcement date, the company has not received any legal documents regarding entering a formal restructuring process, and the uncertainty regarding this process remains [7][12] - The company has been under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws [3][11] Group 3 - The company’s stock and convertible bonds were suspended from trading starting June 20, 2025, due to failure to complete required rectifications by the deadline [7][10] - The company has a significant amount of funds, approximately 387 million yuan, occupied by its controlling shareholder and related parties, which has not been recovered [8][9] - The company is in a pre-restructuring phase and must resolve issues related to fund occupation and guarantees before entering a formal restructuring process [12][17] Group 4 - The controlling shareholder, Dongfang Shanshi Investment Co., Ltd., is facing a judicial auction of 56,491,600 shares, representing about 7.90% of the company's total share capital [15][16] - If the auction is successful, the controlling shareholder's stake could decrease significantly, potentially affecting the stability of the company's control [16][21] - The auction is scheduled to take place on September 11-12, 2025, and the outcome remains uncertain [19][20]

Core Viewpoint - The company, Oriental Fashion Driving School Co., Ltd., is undergoing a pre-restructuring process initiated by the Beijing First Intermediate People's Court due to financial difficulties and potential bankruptcy risks [1][4]. Group 1: Restructuring Process - The court's agreement to the pre-restructuring does not guarantee that the company will officially enter the restructuring process, as it depends on resolving issues related to fund occupation and guarantees by major shareholders [2][4]. - The company has been ordered to rectify non-operational fund occupation amounting to approximately 387 million yuan (about 58.5 million USD) by its controlling shareholder and related parties [3][7]. - If the company fails to rectify these issues within the specified timeframe, its stock and convertible bonds will face trading suspension and potential delisting risks [3][4]. Group 2: Financial Obligations and Management - The company is actively cooperating with the temporary management team appointed for the pre-restructuring period and is required to fulfill its legal obligations as a debtor [2][6]. - A notice has been issued to creditors for debt claims, with a deadline set for August 12, 2025, and the management is also seeking potential restructuring investors [5][6]. - The company has received a notice from the China Securities Regulatory Commission regarding an investigation into potential information disclosure violations, which adds to the uncertainty surrounding its financial status [7][8].