Group 1 - The company and its wholly-owned subsidiary, Dongfang Shifang Driving School Jinzhong Co., Ltd., received an execution notice from the Jinzhong Intermediate People's Court in Shanxi Province [1] - The execution notice requires the company to immediately return the applicant's support subsidy funds amounting to 251 million yuan and the capital occupation loss, calculated based on 250.567445 million yuan from September 1, 2023, until the actual payment date according to the current LPR [1] - The company is also required to bear joint liability for the case, including the acceptance fee and preservation fee totaling 1.2834 million yuan, as well as the execution fee for this case [1]

Core Viewpoint - ST Dongshi is facing severe financial difficulties, including significant fund occupation issues, debt defaults, and deteriorating performance, leading to heightened delisting risks [1][2][6] Group 1: Financial Issues - As of the announcement date, the non-operational fund occupation by the controlling shareholder and related parties amounts to 387 million yuan, with no repayments made [1] - The company has been subject to a regulatory investigation by the China Securities Regulatory Commission (CSRC) for failing to rectify fund occupation issues within the stipulated timeframe [1][2] - ST Dongshi has entered a "pre-restructuring" phase but has not yet received formal court acceptance, creating uncertainty about its ability to proceed with restructuring [2][6] Group 2: Debt and Legal Challenges - The company is facing a forced execution by the Beijing Second Intermediate People's Court for failing to repay a loan of 115 million yuan to Dalian Bank, which includes principal, interest, and penalties [2][3] - In the past twelve months, ST Dongshi has accumulated 27 new lawsuits involving a total of 77.58 million yuan, indicating a tightening cash flow situation [2][3] - The company has pledged shares of its subsidiaries as collateral for loans, which may be subject to forced sale if debts are not repaid [3] Group 3: Performance Decline - ST Dongshi expects a net loss of between 126 million yuan and 105 million yuan for the first half of 2025, representing a year-on-year increase in losses of 45% to 73% [4] - The decline in performance is attributed to a reduction in training students due to macroeconomic conditions and high fixed costs that do not decrease with revenue [4][5] - The company has not proposed specific measures to improve profitability, raising concerns about its ability to compete in a challenging market [5] Group 4: Broader Implications - The financial and operational challenges faced by ST Dongshi are indicative of broader risks in the industry, particularly for companies with high debt and ongoing losses [6] - The situation serves as a warning for investors regarding companies with significant fund occupation and financial instability, highlighting the need for increased regulatory oversight [6]

Core Viewpoint - The company, Dongfang Shifang Driving School Co., Ltd., is currently involved in a legal execution phase concerning a debt of approximately 115.17 million yuan, which includes principal, interest, overdue interest, and penalties [1][2][4]. Summary by Sections Legal Case Overview - The company and its subsidiary, Yunnan Dongfang Shifang Driving Training Co., Ltd., are the defendants in a case initiated by Dalian Bank Co., Ltd. Beijing Branch, regarding a loan agreement of 114 million yuan with a 12-month term [2][3]. - The company has pledged its real estate as collateral for the loan, and the collateral has been registered [2][3]. Execution Notification - The execution amount specified in the execution notice is 115,171,737.32 yuan, which includes principal, interest, overdue interest, penalties, and other costs related to the enforcement of the debt [1][4]. - The execution notice mandates the company to fulfill its obligations as per the effective legal documents and to bear the costs incurred during the execution process [4]. Financial Impact - The company anticipates that the ongoing legal matters may not significantly impact its current or future profits, pending the outcomes of the court's decisions [2][8]. - The company will process any effective judgments according to relevant accounting standards and will actively exercise its litigation rights to protect its and its shareholders' legal interests [2][8]. Litigation and Arbitration Statistics - Over the past twelve months, the company has faced 27 new lawsuits, with a total claim amount of approximately 77.58 million yuan, representing 8.37% of the company's latest audited net assets [4][5]. - The majority of these new cases involve contract disputes, and the company has provided a detailed table of ongoing litigation [4][5]. Additional Legal Matters - As of the announcement date, there are no undisclosed litigation or arbitration matters involving the company or its subsidiaries beyond those already reported [8].

Group 1 - The company held its 28th meeting of the 5th Board of Directors on July 18, 2025, with all 11 directors participating, confirming the legality and validity of the meeting [1][2] - The Board approved a targeted capital reduction for its subsidiary, Urumqi City Investment Oriental Fashion Intelligent Technology Co., Ltd., reducing the registered capital by RMB 12 million, from RMB 100 million to RMB 88 million [1][2] - Following the capital reduction, the company's investment in the subsidiary will decrease to RMB 3 million, which has already been paid [1][2] Group 2 - The capital reduction constitutes a related party transaction as the company's Deputy General Manager also serves as the director and general manager of the subsidiary [2] - The decision for the capital reduction was made after careful consideration and will not adversely affect the company's current operations or financial status [2] - The Board authorized the management team to handle all subsequent matters related to this related party transaction [2]

Group 1 - The core viewpoint is that Qingdao's implementation of the "pay after training" model for driving education has significantly improved service quality and reduced refund-related complaints from 80% to 0.5% over two years, benefiting over 260,000 trainees [1] - The Qingdao Transportation Bureau is committed to enhancing the driving training service management system and promoting a "reassuring consumption, comfortable learning" ecosystem [1] - During the summer vacation, the driving training industry is experiencing increased demand, prompting the Qingdao Transportation Bureau to take measures to protect consumer rights and improve service quality [2] Group 2 - The bureau has implemented strict measures to ensure the authenticity of training hours and has established a dynamic management system for instructors, vehicles, and training sites to meet national standards [2] - Complaints are monitored through monthly reports, and schools that delay refunds are placed on a watch list for regulatory oversight [2] - In response to issues in the maritime tourism sector, the government has established a special task force to implement a unified operational model, enhancing industry regulation and compliance [3]

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。 证券代码：603377 证券简称：ST 东时 公告编号：临 2025-125 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 东方时尚驾驶学校股份有限公司（以下简称"东方时尚"或"公司"）于 2025 年 7 月 9 日披露了《关于公司被债权人申请重整及预重整的提示性公告》（公告 编号：临 2025-117）。公司于 2025 年 7 月 8 日收到北京市第一中级人民法院（以 下简称"北京一中院"）下发的《通知书》（以下简称"通知书"），债权人北 京国丰建业建筑工程有限公司（以下简称"国丰建筑"或"债权人"）以公司不 能清偿到期债务且明显缺乏清偿能力但具备重整价值为由，向北京一中院申请对 公司进行破产重整，并申请启动预重整程序。公司是否能够进入预重整程序尚具 有不确定性，无论公司是否能进入预重整程序，公司将在现有基础上积极做好日 常生产经营管理工作。 根据《上海证券交易所股票上市规则》《上海证券交易所上市公司自律监管 指引第 13 号——破产重整等事项（ ...

Core Viewpoint - The company, Dongfang Shifang Driving School Co., Ltd., is facing significant financial scrutiny due to non-operational fund occupation by its controlling shareholder and related parties, which has led to regulatory inquiries and potential risks of delisting [2][10]. Financial Issues - As of the end of 2024, the total non-operational fund occupation by the controlling shareholder and related parties amounts to 387.34 million yuan, representing 41.80% of the company's net assets [2][4]. - The company has two instances of illegal guarantees totaling approximately 7.7 million yuan, which is 8.34% of the net assets [2][4]. - The company has not yet repaid the occupied funds, with an expected repayment date set for October 19, 2025 [2][10]. Regulatory Actions - The Beijing Securities Regulatory Bureau issued a corrective order on December 19, 2024, requiring the company to return all occupied funds within six months [2][10]. - The company received a negative opinion on its internal controls for 2024 due to the aforementioned financial issues [2][20]. Legal Proceedings - The company has initiated legal actions to recover the occupied funds, including a lawsuit against Beijing Qianzhong Phantom Technology Co., Ltd. and Beijing Tonglong Automobile Sales Co., Ltd. [8][9]. - The company is also involved in arbitration with Guangfa Securities regarding a guarantee that was issued without proper internal approval, which may lead to significant financial liabilities [17][19]. Internal Control Deficiencies - The internal control audit for 2024 revealed significant deficiencies related to the management of funds occupied by related parties, particularly concerning the delivery of VR simulators and AI driving training systems [20][21]. - The company has established a monitoring mechanism to prevent future fund occupation incidents and enhance compliance with regulatory requirements [20][21]. Project Development Risks - The company’s Chongqing subsidiary has a construction project with a balance of 485 million yuan, which is 88.36% complete but faces risks of land recovery due to unpaid rent, potentially leading to impairment losses of 142 million yuan [22][23]. - The project has been delayed due to financial constraints and regulatory investigations involving the company's actual controller [22][25].

Core Viewpoint - The article discusses the criminal conviction of Xu Xiong, the actual controller of ST Dongshi, for manipulating the securities market, resulting in a prison sentence of 6 years and 6 months, along with a fine of 170 million RMB [2][3]. Group 1: Legal Proceedings - Xu Xiong was convicted of manipulating the securities market and sentenced to 6 years and 6 months in prison, with a fine of 170 million RMB and the confiscation of illegal gains [2][3]. - The Shanghai First Intermediate People's Court issued the judgment, which can be appealed within ten days [3][4]. - The case has seen multiple developments, including Xu Xiong's arrest in September 2023 and the subsequent removal from all positions within the company [5][6]. Group 2: Company Background and Financial Performance - ST Dongshi, established in August 2005 and listed in 2016, was once valued over 10 billion RMB but has faced significant financial decline, with stock prices dropping to 0.99 RMB [8][10]. - The company has reported continuous losses, with a net loss of 903 million RMB in 2024, following previous losses in 2023 and 2022 [14]. - The company is currently facing challenges, including the occupation of 387 million RMB of its funds by its controlling shareholder and the risk of delisting due to unresolved financial issues [10][14]. Group 3: Market Impact - The stock of ST Dongshi has been suspended since June 20, 2025, due to unresolved fund occupation issues, with potential delisting risks if corrective actions are not taken within the stipulated timeframe [10][14]. - The company’s operational activities are reported to be normal, but the ongoing legal issues and financial challenges pose significant risks to its future [3][14].

Core Viewpoint - ST Dongshi (Oriental Fashion, 603377) is facing significant legal and operational challenges due to the conviction of its actual controller, Xu Xiong, for manipulating the securities market, which has led to a prison sentence and substantial fines [1][3]. Group 1: Legal Issues - Xu Xiong has been sentenced to six years and six months in prison and fined 170 million yuan for manipulating the securities market [1]. - The company has faced multiple investigations and penalties, including a fine of 5 million yuan for failing to disclose related party transactions and an additional 8.5 million yuan in penalties for Xu Xiong [4]. - The company received a notice from the China Securities Regulatory Commission regarding suspected violations of information disclosure laws [4]. Group 2: Corporate Governance - Following the legal issues, Xu Xiong has been removed from all positions within the company, and the company claims that his actions will not affect shareholder rights or normal business operations [3]. - The company is currently under pre-restructuring as mandated by the Beijing First Intermediate People's Court, with a temporary management team appointed to oversee the process [6]. Group 3: Financial and Operational Status - The company is actively seeking restructuring investors to address debt risks and non-operational fund occupation issues, aiming to maximize the interests of creditors and minority shareholders [7]. - As of December 31, 2024, the company has approximately 387 million yuan in non-operational fund occupation, which has not been resolved, leading to potential delisting risks if not addressed by June 19, 2025 [8].

Meeting Details - The shareholders' meeting was held on July 11, 2025, at the company's conference room in Beijing [1] - The attendance rate of ordinary shareholders and preferred shareholders with restored voting rights was 39.598% [1] - The meeting was convened by the board of directors and chaired by Ms. Sun Xiang, with voting conducted through both on-site and online methods, complying with the Company Law and the Articles of Association [1] Voting Results - All non-cumulative voting proposals were approved with a high majority, including: - 99.9005% approval for the first proposal, with 282,794,262 votes in favor [1] - 99.9373% approval for the second proposal, with 282,898,338 votes in favor [1] - 99.9324% approval for the third proposal, with 282,884,638 votes in favor [1] - 99.9410% approval for the last proposal, with 282,908,962 votes in favor [2] Legal Compliance - The meeting's procedures, including the convening, attendance, and voting, were confirmed to be in accordance with the Company Law and relevant regulations by the attending lawyers [3]