Circular of the China Securities Regulatory Committee Concerning the Distribution of the Rules for Implementation of Suspending and ZhengJianFa [2001] No.147 All listed companies: With a view to promoting the healthy development and protecting the lawful rights and interests of the investors, the Rules for Implementation The stock exchanges shall not, during the period of suspension, provide special assignment services for the listed companies whose As for the companies the trading of whose stocks has been suspended prior to the promulgation of the present Measures, the resumption I. The stock exchanges shall, as of the day when the grace period expires, stop the provision of special transferring services to the II. The companies that satisfy the conditions as mentioned below may, within 5 working days after disclosing the annual report for the 1. Disclosing the annual report for the year 2001 within the statutory time limit; 2. The 2001 annual financial statement shows that the company is having a favorable balance. If an auditing report is made by a certified accountant with explanatory notes such as qualified opinions, unqualified opinions, negative III. If the company fails to disclose the 2001 annual financial statement within the statutory time limit, the stock exchange may stop Where the expiration date of the grace period precedes the statutory time limit for disclosing the annual financial statement of 2001 IV. The stock exchanges shall make decisions of resuming or terminating the listing of companies by referring to the relevant provisions
Article 1 The present Measures have been enacted according to the relevant provisions of the Company Law and the Securities Law for the purpose Article 2 The present Measures shall be applicable to the suspension, resumption and termination of listing of the securities of the listed Article 3 The stock exchanges decides the suspension, resumption and termination of the listing of the stocks of the listed companies according The stock exchange shall, within 2 working days after making the above-mentioned decision, report to the China Securities Regulatory Article 4 If the CSRC believes that the decision made by the stock exchange for suspending, resuming or terminating the listing of a stock Chapter II Suspending the Listing Article 5 If a company suffers from a deficit for three consecutive years, the stock exchange shall, within 10 days after the company discloses The preceding paragraph shall not be applicable to the circumstance when the company suffers from a deficit for three consecutive Article 6 Where the stock exchange decides to suspend the listing of the stocks of the company, it shall, within 2 working days, inform the Article 7 The company shall, within 2 working days after the stock exchange makes the decision of suspending the listing of its stocks, publish 1. The types, short post_title and code number of the stock whose listing has been suspended and the day when the suspension starts; 2. Major contents of the decision made by the stock exchange concerning the suspension; 3. Other contents as required by the stock exchange. Article 8 The company shall, during the period of suspending the listing of the stocks thereof, disclose at least one time per month the specific Article 9 The company shall, during the suspension of the listing, continue to perform its obligations of information disclosure. Chapter III Resuming the Listing Article 10 After the suspension of the listing of stocks, the company may, if it meets the conditions as mentioned below, apply for resuming 1. Disclosing its first semi-annual financial statement within the statutory time limit after the suspension; 2. The semi-annual financial statement shows that the company is having a favorable balance. If the auditing report for the semi-annual financial statement is attached with an explanatory note by the certified accountant such Article 11 To apply for resuming listing, the company shall hire a recommender that has the qualifications as a major underwriter and that satisfies Article 12 The stock exchange shall, within 5 working days after the company files an application for resuming the listing of its stocks, decide After the stock exchange accepts the application, it shall decide whether to approve the application for resuming the listing within Article 13 The company shall, after receiving the decision of the stock exchange on resuming the listing of stocks, publish a “Public Announcement 1. The types, short post_title and code number of the stock whose listing is resumed; 2. Major contents of the decision made by the stock exchange on resuming the listing; 3. Specifications made by the board of directors of the company about the measures taken for resuming the listing; 4. Other contents as required by the stock exchange. Article 14 The listing of the stocks of the company shall be resumed 5 days after the company publishes the “Public Announcement of the Listing The stock exchange shall deal with the stocks of the company in a special way during the period after the listing of the stocks of Chapter IV Termination of Listing Article 15 In case the company fails to disclose its first semi-annual financial statement after the expiration of the statutory time limit, Where the company has disclosed its first semi-annual financial statement during the statutory time limit after the suspension of Article 16 If, after accepting the application of the company for resuming the listing, the stock exchange believe, upon examination, that the Article 17 If, after the listing of the stocks of the company is suspended and the shareholders meeting decides to terminate the listing, the Article 18 If, after the listing of the company’s stocks is resumed, the company fails to disclose its first annual financial statements after If, after the listing of the company’s stocks is resumed, the company has disclosed its first annual financial statement within the If the auditing report for the company’s annual financial statement is attached with an explanatory note such as qualified opinions, Article 19 The company shall, within 2 working days after receiving the decision of the stock exchange to terminate the listing of stocks, publish 1. The types, short post_title and code number of the stock and the day when the listing is terminated; 2. Major contents of the decision made by the stock exchange concerning the termination of listing; 3. The registration, transfer and management of its stocks after the listing is terminated; 4. Other contents as required by the stock exchange. Article 20 The company shall, within one month after the listing of its stocks is terminated, publish a public announcement on the newspapers Article 21 If the company fails to perform the obligation as provided in the preceding paragraph during the statutory time limit, the shareholders Article 22 The company whose listing of stocks has been terminated may, according to the relevant provisions and the agreement concluded with Chapter V Supplementary Provisions Article 23 The present Measures shall be applicable to the companies listed at the Shanghai Stock Exchange and Shenzhen Stock Exchange. Article 24 The present Measures shall take effect as of January 1, 2002. the Rules for Implementation of for Suspending and Terminating the |
The China Securities Regulatory Commission
2001-11-30