[TechWeb] News from December 9,Storm GroupAn announcement was issued stating that due to defaulting on the partner's computer room server hosting fees, the partner had terminated the service, so the company's website and mobile client were unable to provide services normally. The company is actively negotiating with other partners. As of the disclosure date of the announcement, there are no clear results on the cooperation matters. The company's main business is still at a standstill, its business development is severely restricted, and it faces the risk of not having a source of business revenue.

Recently, the company's main business has come to a standstill, and there is a risk that there is no source of business revenue. The company's office space rent is paid until the end of February 2020. At that time, if rent cannot be paid in a timely manner, it will face the risk of no office space. The company continues to lose a large number of employees. Currently, there are only 10 people left. At the same time, there are wage arrears to some employees.

As of now, the company has not hired a chief financial officer or auditor, and there is a risk that it will not be able to disclose the 2019 annual report within the statutory period. According to relevant regulations, if a listed company has not disclosed its annual report within two months from the date of expiration of the statutory disclosure period, the Shenzhen Stock Exchange may decide to suspend the company's stock listing.

The net assets attributable to the owners of the parent company in the consolidated financial statements of the company on September 30, 2019 were -633.4499 million yuan (unaudited). There is a risk that the company's net assets attributable to shareholders of listed companies at the end of 2019 will be negative after audit. According to relevant regulations, if the company's audited 2019 financial and accounting report shows that the net assets at the end of 2019 were negative, the Shenzhen Stock Exchange may suspend the company's stock listing.

Recently, the company received a “ruling” from the Beijing Arbitration Commission, ruling that the company paid a total of 470 million yuan in transfer prices, liquidated damages, etc. to Shanghai Gefei Asset Management Co., Ltd. The company has a legal risk arising from not being able to pay these fees.