亏损上市公司暂停上市和终止上市实施办法（修订） Suspending and Terminating the Listings of Loss-making Listed Companies Impl

e 16　After the stock exchange has accepted a company's application for restoration of its listing and decides after examination and verification that the company does not satisfy the requirements for restoration of listing, the stock exchange shall render a decision to terminate the company's listing within 30 working days of the date of acceptance of the application.

　　Article 17　If a resolution on the termination of the company's listing is adopted by a shareholders' general meeting after the listing of the company's shares is suspended, the company shall notify the stock exchange within two working days thereafter. The stock exchange shall render a decision to terminate the listing of the company's shares within five working days of the date of receipt of the notification.

　　Article 18　Where, after the listing of the company's shares has been resumed, a company has not disclosed its first annual report after the restoration of its listing when the statutory time limit ends, the stock exchange shall render a decision to terminate the listing of the company's shares within 10 working days of the end of the statutory time limit.

　　Where, after the listing of the company's shares has resumed, a company discloses its first annual report after the restoration of listing of its shares within the statutory time limit but the company shows a loss, the stock exchange shall render a decision to terminate its listing within 30 working days after the disclosure of its annual report.

　　If a certified accountant issues an audit report with an explanatory note setting forth an unqualified opinion, a qualified opinion, an adverse opinion or a disclaimer of opinion on its annual financial report, the stock exchange may conduct investigation and verification on the authenticity of the company's profit in the financial report. The investigation and verification period shall not be included in the time limit for making the termination of listing decision specified in the provisions of the previous paragraph.

　　Article 19　Within two working days of the date of receipt of the stock exchange's decision to terminate its listing, a

company shall publish an Announcement of Termination of Listing in the newspaper(s) and on the website(s) designated by the CSRC, and on the website(s) designated by the stock exchange. The announcement shall contain the following particulars:

　　1. the class, symbol, securities code and date of termination of listing of the shares the listing of which has been terminated;

　　2. the main contents concerning the decision of the termination of listing;

　　3. matters concerning the registration, transfer and management of the shares after the termination of the listing; and

　　4. other particulars required by the stock exchange.

　　Article 20　A company shall, within one month after its listing has been terminated, publish an announcement in the newspaper(s) and on the website(s) designated by the CSRC, and on the website(s) designated by the stock exchange, stating the specific reasons for the termination of its listing, the company's financial position over the years, details on serious violations of laws or regulations by senior management personnel of the company and details on current material claims, debts and court actions, etc.

　　Article 21　If a company fails to perform the obligation stipulated in the preceding Article within the stipulated time limit, its shareholders may legally demand the company to perform the afore-mentioned obligation.

　　Article 22　A company whose shares are terminated from listing may, in accordance with the relevant provisions, conclude an agreement with a securities company approved by the China Securities Industry Association, and entrust it to handle its share transfer.

　　PART FIVE　SUPPLEMENTARY PROVISIONS

　　Article 23　These Procedures are applicable to companies whose shares are listed on the Shanghai and Shenzhen stock exchanges.

　　Article 24　These Procedures shall be implemented as of 1 January 2002. The Suspending and Terminating the Listings of Loss-making Listed Companies Implementing Procedures promulgated by the CSRC on 22 February 2001 shall be repealed simultaneously

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