1. This report summarizes the status of companies which have been suspended for three months or more.

Transcription

1 (Posted on 1 November ) MONTHLY PROLONGED SUSPENSION STATUS REPORT (MAIN BOARD) (as at 31 October ) 1. This report summarizes the status of which have been for three months or more. Suspension, resumption criteria, and delisting s under the Listing Rules (Rules) 2. The Exchange, as frontline regulator of listed, is obliged to maintain a fair, orderly and efficient market for the trading of securities. It may suspend trading in any securities for the purpose of protecting investors or maintaining an orderly market. Where there are s about investor protection, the Exchange may require the company to address these specific s before allowing trading to resume In the interests of promoting a continuous market for the trading of listed securities, the of should be kept as short as possible. Resumption of trading normally takes place after the publication of information, and where applicable, fulfillment of conditions imposed by the Exchange. 4. On 1 August (the Effective Date), amendments to the delisting framework under the Rules came into effect. Under the amended Rules, the Exchange would cancel the listing of a company after a trading of 18 continuous months (the 18 month ). Depending on the specific facts and circumstances of a company, the Exchange may at any time publish a delisting notice stating its right to delist the company if it fails to resume trading within a shorter specified in the notice (specific ). 5. The amended Rules provide the following transitional arrangements for under a trading immediately before the Effective Date: (a) for under Practice Note 17 to the Rules, Practice Note 17 continues to apply (see Table A); (b) for having been given a delisting notice, the delisting notice continues to apply (see Table B); and (c) in other cases, for 12 continuous months or more immediately before the Effective Date would be delisted if they remain for 12 continuous months from the Effective Date, and those for less than 12 months immediately before the Effective Date would be delisted if they remain for 18 continuous months from the Effective Date (see Table C). 6. Table C also includes cases where trading begins to suspend after the Effective Date. The ed will be delisted if they remain for the 18 month. Where appropriate, the Exchange may at any time during the trading issue a delisting notice specifying a shorter specific referred to in paragraph 4 above, in which event the company will be transferred to table B. Disclosure of information by 7. A company is obliged to disclose (i) inside information under the Securities and Futures Ordinance, and (ii) all information required to be disclosed by a listed company under the Rules (e.g. financial results, notifiable and connected transactions). In addition, it must announce quarterly updates on its developments, such as its business operations, resumption plan and timetable, and the progress of implementing such resumption plan and satisfying the resumption conditions/guidance issued by the Exchange. Please see the available on the HKEXnews website at 8. For guidance on the operation of the amended Rules, general obligations of, the Exchange s regulatory actions during the resumption process, and guidance specific to different types of cases 2, please see Guidance Letter GL The table below presents a status summary of long based on their published, including conditions for resumption, deadlines for resumption, major developments and outstanding issues. The Exchange may modify or impose further resumption conditions/guidance subject to developments. 1 2 Please see also the Exchange s article Overview of Policy on Share Trading Suspension available at for details about circumstances for Including (i) failure to maintain sufficient operations or assets, (ii) failure to publish financial results or inside information due to material irregularities, and (iii) failure to maintain sufficient public float

2 A. Companies under Practice Note 17 (see paragraph 5(a)) These are in severe financial difficulties and/or have either ceased to operate their businesses or are carrying on minimal operations. Under Practice Note 17, they enter into a three-stage delisting procedure of a minimum of six months each, during which they may submit proposals for the resumption of trading for the Exchange s approval. The may submit resumption proposals at any time during the delisting stages. Upon the expiry of each stage and in the absence of a viable proposal, the Exchange will place the company into the next delisting stage or if it is in the final stage, cancel its listing. The may seek a review of the Exchange s decision to place them into the next delisting stage or to delist them 3. No delisting stage 1 Natural Dairy (NZ) Limited (In Provisional Liquidation) (462) 7-Sep Jun-18 financial results 3. Withdraw winding up provisional liquidators In 3rd delisting stage (expired in Jun ) A resumption proposal was submitted in Jun financial results 3. Withdraw winding up provisional liquidators 2 Zhongda Limited (909) 5-Sep Nov Demonstrate no reasonable regulatory about internal On 18 Sep, the Listing (Review) Committee rejected the company s application for a further extension of time to submit the new listing application On 27 Sep, the company filed an application for a review by the Listing Appeals Committee on the Listing (Review) Committee s decision 2. Demonstrate no reasonable regulatory about 3. Address any audit internal 3 Mayer Limited (1116) 9-Jan Dec-17 ors s internal In Jan the company was allowed to proceed with its resumption proposal 2011 to 2017 annual results and 2012 to interim results Circular on resumption transactions was despatched to shareholders in Sep. EGM was held in Oct and resumption transactions as stated in the circular have been approved. The company expects to resume by Nov internal 3 See the review procedure in Chapter 2B of the Rules.

3 delisting stage 4 Boshiwa Holding Limited (Provisional Liquidators appointed) (1698) 15-Mar Aug Address issues arisen from forensic 3. Demonstrate the fulfillment of the duties of skill, care and diligence by directors 5. Publish outstanding ors s 6. Demonstrate adequate forensic investigation Apr 2013 Supplement to resumption proposal was submitted in Jun 2011 to 2017 annual results and 2012 to interim results 2. Address issues arisen from forensic 3. Demonstrate the fulfillment of the duties of skill, care and diligence by directors 5. Address any auditors s 6. Demonstrate adequate 5 DBA Telecommunica tion (Asia) Limited (3335) 6-Jun-13 8-Sep Complete the board committee s review on relevant audit issues and demonstrate no 2012 to 2015 annual results New listing application ing its proposed reverse takeover lapsed in Jun. The company is in process of renewing and resubmitting new listing application by the first week of Dec. 3. Complete the board committee s review on relevant audit issues and demonstrate no 6 China Solar Energy Limited (Provisional Liquidators appointed) (155) 16-Aug-13 1-Mar Investigate the allegations in complaints internal New listing application ing its proposed reverse takeover was resubmitted in May 2. Investigate allegations in complaints internal 7 China Lumena New Materials Corp. (In Provisional Liquidation) (67) 25-Mar-14 7-Oct Address the alleged irregularities and inform market of material information ors s internal 5. Withdraw winding up liquidators 2013 to 2017 annual results and 2014 to interim results New listing application ing its proposed reverse takeover was resubmitted in May 2. Address the alleged irregularities and inform market of material information 3. Address any auditors s internal 5. Withdraw winding up liquidators

4 delisting stage 8 Flyke Ltd (1998) 31-Mar May-17 (1st delisting 2. Address outstanding audit issues and the bank discrepancies In 1st delisting stage (expired in May 2017) 2013 to 2017 annual results and 2014 to interim results New listing application ing its proposed reverse takeover was rejected by the Listing Department in Sep The company has applied to the Listing Committee for review of the Listing Department s decision made in Sep 2. Address outstanding audit issues and the bank discrepancies 3. Address any audit 9 Golden Shield (Industrial) Limited (In Compulsory Liquidation) (2123) 1-Apr-14 4-Jan Conduct investigation on certain legal proceedings and related transactions 5. Withdraw winding up liquidators New listing application ing its proposed reverse takeover was resubmitted in Dec 2017 and lapsed in Jun 2. Conduct investigation on certain legal proceedings and related transactions 5. Withdraw winding up liquidators 10 Fujian Nuoqi Co., Ltd. (1353) 23-Jul Mar-18 reported potential irregularities 3. Demonstrate the fulfillment of the duties of skill, care and diligence by directors 5. Demonstrate adequate 6. Inform market of In 3rd delisting stage (expired in Mar ) 2014 to 2017 annual results and 2014 to interim results forensic investigation Feb New listing application ing its proposed reverse takeover was submitted in Mar, and lapsed in Sep The company intends to renew the listing application by 30 Nov The long stop date of the reverse takeover was extended to 30 June Demonstrate the fulfillment of the duties of skill, care and diligence by directors 3. Address any audit 11 China Agrotech Limited (In Liquidation) (1073) 18-Sep-14 8-Sep Withdraw winding up provisional liquidators New listing application ing its proposed reverse takeover was resubmitted in Oct 3. Withdraw winding up provisional liquidators

5 delisting stage 12 Anxin-China Limited (1149) 1-Apr Jun Conduct investigation to address reported 5. Demonstrate adequate 6. Inform market of The company has applied to the Listing Appeals Committee for review of the Listing (Review) Committee s delisting decision made in Jul 2. Conduct investigation to address reported 5. Demonstrate adequate 6. Inform market of 13 Nickel Resources Limited (formerly known as China Nickel Resources Limited ) (2889) 1-Apr Jul Demonstrate sufficient working capital internal 2014 to 2017 annual results and 2015 to interim results The company has applied to the Listing Appeals Committee for review of the Listing (Review) Committee s delisting decision made in Oct 3. Demonstrate sufficient working capital internal 14 Greens Limited (In Provisional Liquidation) (1318) 2-Jun Nov Investigate the issues raised by the special investigation committee 5. Publish outstanding New listing application ing its proposed reverse takeover was resubmitted in Aug 2. Investigate the issues raised by the special investigation committee 5. Publish outstanding 15 Changgang Dunxin Enterprise Limited (2229) 20-Jan-16 4-Jan Approval of resumption 2. Demonstrate sufficient 3. Conduct appropriate investigation into 4. Demonstrate no 5. Publish outstanding 6. Withdraw winding up provisional liquidators 7. Inform market of In 3rd delisting stage (expiring in Jan 2019) of trading on 18 May Demonstrate sufficient 3. Conduct appropriate investigation into 4. Demonstrate no 5. Publish outstanding 6. Withdraw winding up provisional liquidators 7. Inform market of

6 delisting stage 16 Up Energy Development (Provisional Liquidators appointed) (307) 30-Jun Mar Withdraw winding up provisional liquidators In 3rd delisting stage (expiring in Mar 2019) In Sep, the Listing (Review) Committee upheld the Listing Committee s decision to place it to the 3rd delisting stage 3. Withdraw winding up provisional liquidators 17 CECEP COSTIN New Materials (2228) 15-Aug Jul Conduct an appropriate misappropriation of funds by a director In 3rd delisting stage (expired in Jul ) A resumption proposal was submitted in Jul An extension of time has been granted for the company to submit the new listing application in relation to the resumption proposal by 28 Feb Conduct an appropriate misappropriation of funds by a director 18 China Fiber Optic Network System Group Ltd. (3777) 13-Oct Nov Approval of resumption 2. Demonstrate sufficient 4. Discharge or dismiss the winding up order and discharge the joint and several liquidators In 3rd delisting stage (expiring in Nov ) of trading on 13 Oct Demonstrate sufficient 4. Discharge or dismiss the winding up order and discharge the joint and several liquidators 19 China Huishan Dairy Limited (Provisional Liquidators appointed) (6863) 24-Mar Mar-19 (2n delisting 1. Approval of resumption 5. Demonstrate sufficient In 2nd delisting stage (expiring in Mar 2019) of trading on 8 May Demonstrate sufficient 20 Primeview Limited (789) 3-Jul-17 3-Nov-18 (2nd delisting operations/assets 2. Address audit and the underlying causes of such In 2nd delisting stage (expiring in Nov ) A resumption proposal was submitted in Sep operations/assets 2. Address audit and the underlying causes of such

7 delisting stage 21 Asia Coal Limited (835) 3-Oct Apr-19 In 3rd delisting stage (expiring in Apr 2019) A resumption proposal was submitted in Sep. Listing department considered the resumption proposal was not viable 22 Victory Group Limited (1139) 23-Jan Jan-19 (2nd delisting In 2nd delisting stage (expiring in Jan 2019) 23 Midas Limited (1021) 8-Feb Nov-18 (1st delisting operations/assets investigations to address potential irregularities internal 5. Demonstrate no regulatory about the management integrity 6. Inform market of all In 1st delisting stage (expiring in Nov ) operations/assets investigations to address potential irregularities internal 5. Demonstrate no regulatory about the management integrity 6. Inform market of all 24 Ding He Mining Limited (705) 3-Apr Nov-18 (1st delisting operations/assets all In 1st delisting stage (expiring in Nov ) operations/assets all 25 Centron Telecom Holding Limited (Provisional Liquidators appointed) (1155) 3-Apr-18 5-Dec-18 (1st delisting 1. Inform market of 3. Demonstrate sufficient 4. Withdraw winding up petition and discharge provisional liquidators In 1st delisting stage (expiring in Dec ) 1. Inform market of 3. Demonstrate sufficient 4. Withdraw winding up petition and discharge provisional liquidators

8 B. Companies subject to a specific (see paragraph 5(b)) No specific 1 China Taifeng Beddings Limited (Provisional Liquidators appointed) (873) 26-Feb-15 5-Jan Approval of resumption issues raised by auditors forensic investigation Nov 2016 of trading in Jun 2017 The company has applied to the Listing Appeals Committee for review of the Listing (Review) Committee s delisting decision made in Jun Provisional liquidators have been appointed in July issues raised by auditors 2 China Animal Healthcare Ltd. (940) 30-Mar Apr Conduct forensic identified by auditors Forensic investigation was completed in Jun 2017 Internal control review completed in Nov 2017 On 5 Oct, the Listing (Review) Committee upheld the Listing Committee s decision made in Apr to commence delisting procedures 1. Address forensic C. Other (see paragraphs 5(c) and 6) No 1 Real Gold Mining Limited (246) 27-May Jul Approval of resumption reported potential irregularities ors' s 5. Demonstrate adequate forensic investigation Apr and Jun 2014 internal control review May 2016 of trading on 28 Jun 2016 SFC commenced legal action against the company and its former controlling shareholder, former director, sponsor and underwriter in Jun to 2015 annual results and 2012 to 2015 interim results ors s 2 China High Precision Automation (591) 22-Aug Jul Approval of resumption the of trading on 22 Aug 2012

9 3 China evity Group Limited (formerly known as Sijia Group Limited) (1863) 14-Feb Jul Approval of resumption ors s investigation were announced in Jun to 2017 annual results and 2013 to interim results of trading on 4 Dec Dynasty Fine Wines Group Ltd. (828) 22-Mar Jul Publish internal and address any identified issues Investigation was completed in Oct to 2016 annual results and 2013 to 2016 interim results 2017 annual results and 2017 to interim results are expected to be published by Nov 2012 to 2016 annual reports and 2013 to 2016 interim reports are expected to be published by Nov 1. Publish internal and address any identified issues 5 Superb Summit (1228) 20-Nov Jul Approval of resumption 2. Address the allegations in an analyst report internal of trading on 15 Dec annual results and 2015 interim results 2. Address the allegations in an analyst report internal 6 Tianhe Chemicals (1619) 26-Mar Jul Approval of resumption identified by auditors forensic investigation Oct 2016 of trading on 25 May 2017 identified by auditors

10 7 Mingyuan Medicare Development Limited (233) 1-Apr Jul Conduct forensic issues raised by auditors 5. Approval of resumption Preliminary findings on investigation were announced on 29 Aug 2016 of trading on 23 Oct Conduct forensic issues raised by auditors 5. Address issues arisen 8 Hanergy Thin Film Power (566) 20-May Jul Satisfy resumption conditions imposed by Securities and Futures Commission, including: Agree not to contest liability and court orders sought by SFC Disclose detailed information on the company, its activities, business, assets, liabilities, financial performance and prospects of trading on 15 July 2015 and imposed resumption requirements on 23 Jan 2017 SFC obtained a court order to disqualify directors on 4 Sep Satisfy resumption conditions imposed by SFC 9 Pacific Andes Limited (1174) 26-Nov Jul Publish outstanding ors s Draft forensic report was received by review committee in Mar and is being finalised 1. Publish outstanding ors s 10 Mingfa Group () Limited (846) 1-Apr Jul Conduct investigation to address issues raised by auditors 2. Address audit s financial results Forensic investigation is expected to be completed by end of Nov 1. Conduct investigation to address issues raised by auditors 2. Address audit s financial results 11 Sound Global Limited (967) 13-Apr Jul Approval of resumption 3. Restore and maintain sufficient public float of trading on 13 Apr 2016 investigation were announced in Feb 2016 annual results and 2016 interim results Possible proposal which may result in the privatisation and delisting of the company was announced 3. Restore and maintain sufficient public float

11 12 National United Resources Limited (254) 1-Aug Jul Approval of resumption internal of trading on 5 Aug 2016 forensic investigation Oct 2017 internal 13 Fuguiniao Co., Ltd. (1819) 1-Sep Jul Publish forensic and address any identified issues on 6. Demonstrate sufficient Internal control review with an extended scope is on-going 1. Publish forensic and address any identified issues on 6. Demonstrate sufficient 14 Hua Han Health Industry Limited (587) 27-Sep Jul Complete appropriate issues identified by auditors Independent investigation is ongoing and key findings on investigation is expected to be published end of Oct 2016 annual results and 2017 interim results are expected to be published end of Nov 1. Complete appropriate issues identified by auditors 15 Asian Citrus Limited (73) 29-Sep Jul Publish outstanding 2. Address allegations received by auditors 4. Demonstrate sufficient 2016 to 2017 annual results and 2017 to interim results 1. Publish outstanding 2. Address allegations received by auditors 4. Demonstrate sufficient 16 Shenji Group Kunming Machine Tool Limited (300) 23-Mar Jul Approval of resumption 3. Conduct forensic investigation on internal of trading on 6 Aug 2017 annual results and interim results Forensic report is expected to be issued in Dec Internal control review report is expected to be issued in Feb Conduct forensic investigation on internal

12 17 National Agricultural Limited (1236) 28-Mar Jul Approval of resumption issues raised by auditors of trading on 4 Jul 2017 forensic investigation Mar issues raised by auditors 18 Coolpad Group Limited (2369) 31-Mar Jul Publish outstanding 2. Conduct appropriate investigations to address audit issues Independent board committee was formed to investigate the issues 2016 annual results 2017 annual results and 2017 interim results are expected to be published by Nov interim results are expected to be published by mid-dec investigation are expected to be announced by Nov 1. Publish outstanding 2. Conduct appropriate investigations to address audit issues 19 Hsin Chong Group Limited (404) 3-Apr Jul Address audit issues 3. Demonstrate sufficient investigation were announced in Jan 1. Address audit issues 3. Demonstrate sufficient 20 Lerado Financial Group Limited (1225) 6-Jun Jul Approval of resumption of trading on 6 Jun run Tea Group Limited (2898) 15-Jun Jul Address audit issues internal 5. Demonstrate no agreed-upon procedures and internal control review Aug 2017 to annual results and 2017 interim results were published 1. Address audit issues internal 5. Demonstrate no 22 Shenzhou Space Park (formerly known as China Household Limited) (692) 22-Jun Jul Approval of resumption 2. Conduct an appropriate the allegations in the research report 4. Demonstrate no of trading on 17 Jul 2017 Preliminary investigation report is expected to be circulated to board committee by Oct 2. Conduct an appropriate the allegations in the research report 4. Demonstrate no

13 23 Yorkshine Limited (1048) 1-Aug Jul Address audit issues and findings of review internal 5. Demonstrate sufficient investigation were announced in Jan 2017 annual results and interim results Internal control review is expected to be completed prior to the despatch of annual report annual results are expected to be published by Nov 1. Address audit issues and findings of review internal 5. Demonstrate sufficient 24 Brightoil Petroleum () Limited (933) 3-Oct Jan Publish forensic and address any identified issues Forensic investigation is on-going 1. Publish forensic and address any identified issues 25 New Ray Medicine Holding Limited (6108) 6-Oct Jan Approval of resumption of trading on 6 Oct Tech Pro Technology Development Limited (3823) 9-Nov Jan Approval of resumption of trading on 9 Nov 2017 Independent investigation report was issued and received by Special Investigation Committee on 28 Sep 2017 annual results are expected to be published by Dec 27 Town Health Medical Group Limited (3886) 27-Nov Jan Approval of resumption of trading on 27 Nov China Wah Yan Healthcare Limited (648) 27-Nov Jan Approval of resumption financial results of trading on 27 Nov 2017 financial results

14 29 Convoy Global Limited (1019) 7-Dec Jan Disclose details of the, assess the impact on the financial and operation position, and take appropriate actions internal regulatory about management integrity The company is examining details of the potential irregularities and the impact on its business and operation 1. Disclose details of the, assess the impact on the financial and operation position, and take appropriate actions internal regulatory about management integrity 30 Huiyin Smart Community Co., Ltd. (1280) 26-Mar Jan Complete appropriate identified audit issues internal 5. Demonstrate no reasonable regulatory about 6. Demonstrate the fulfillment of the duties of skill, care and diligence by directors investigation and internal control review Sept 2017 annual results and interim results are expected to be published by Oct and Nov respectively 1. Complete appropriate identified audit issues internal 5. Demonstrate no reasonable regulatory about 6. Demonstrate the fulfillment of the duties of skill, care and diligence by directors 31 Huili Resources (Group) Limited (1303) 28-Mar Jan Complete appropriate identified audit issues investigation were announced in Aug 2017 annual results and interim results are expected to be published by Nov 1. Complete appropriate identified audit issues 32 Clear Media Limited (100) 3-Apr Jan Address audit issues 2. Conduct a forensic audit issues internal 4. Demonstrate no regulatory about management integrity forensic investigation Aug Internal control review is on-going 1. Address audit issues 2. Conduct a forensic audit issues internal 4. Demonstrate no regulatory about management integrity 33 China Huiyuan Juice Group Limited (1886) 3-Apr Jan Conduct forensic and address any identified issues internal on Forensic investigation and internal control review are on-going 1. Conduct forensic and address any identified issues internal on

15 34 V1 Group Limited (82) 8-May Jan Demonstrate the legality of business operations Application for renewal of the business license has been made 1. Demonstrate the legality of business operations 35 Top Dynamic Limited (2203) 11-Jun Jan Restore public float The company and the offeror are considering to place down the company s shares to restore the public float The company was granted a waiver to extend to 31 Oct to restore the public float 1. Restore public float 36 Tou Rang Chang Fu (850) 3-Jul Jan Conduct an appropriate the identified audit issues modification Forensic investigation is on-going and investigation report is expected to be issued by 15 Nov 1. Conduct an appropriate the identified audit issues modification 37 New Concepts Limited (2221) 3-Jul Jan Publish outstanding Nil 1. Publish outstanding 38 Real Nutriceutical (2010) 4-Jul Jan Approval of resumption of trading on 4 July Independent Board Committee have not been provided with any financial resources to engage professionals and have encountered difficulties to devise a resumption plan 39 CW Group Limited (Provisional Liquidators appointed) (1322) 11-Jul Jan Discharge or dismiss the winding up order and discharge the liquidators 4. Inform the market of Nil 2. Discharge or dismiss the winding up order and discharge the liquidators 4. Inform the market of 40 China Investment Development Limited (204) 23-Jul Jan Conduct appropriate investigations to address suspected irregularities conducted by a former director 2. Inform the market of A special committee was established to investigate on the suspected irregularities on a former director Internal review consultant was appointed and a preliminary report was expected to be issued end of Sep 1. Conduct appropriate investigations to address suspected irregularities conducted by a former director 2. Inform the market of

16 41 Ascent Limited (264) 26-Jul Jan Restore public float The offeror, who is the controlling shareholder, is in negotiation for placing of shares to restore public float The company was granted a waiver to extend to 24 Oct to restore the public float The company has applied for a waiver to extend to 24 Jan 2019 to restore the public float 1. Restore public float