Article 53 Where an application for the listing of stocks has been subject to
the examination and approval of a stock exchange, the relevant company that has
reached a listing agreement thereon shall announce the relevant documents for
stock listing within the prescribed period and shall make the said documents
available for public reference in designated places.
Article 54 A company that has reached a listing agreement may not only
announce the documents as prescribed in the preceding Article herein but also
announce the following items:
(1) The date when the stocks have been
approved to be listed in a stock exchange;
(2) The name list of the top
10 shareholders who hold the largest number of shares in the company as well as
the amount of stocks as held thereby;
(3) The actual controller of the
company; and
(4) The names of the directors, supervisors and senior
managers of the company as well as the relevant information on the stocks and
bonds of the company as held thereby.
Article 55 Where a listed company is in any of the following circumstances,
the stock exchange shall decide to suspend the listing of its
stocks:
(1) Where the total amount of capital stock or share
distribution of the company changes and thus, fails to meet the requirements of
listing;
(2) Where the company fails to publicize its financial status
according to the relevant provisions or has any false record in its financial
statements, which may mislead the investors;
(3) Where the company has
any major irregularity;
(4) Where the company has been operating at a
loss for the latest 3 consecutive year; or
(5) Under any other
circumstance as prescribed in the listing rules of the stock exchange.
Article 56 Where a listed company is in any of the following circumstances,
the stock exchange shall decide to terminate the listing of its
stocks:
(1) Where the total amount of capital stock or share
distribution of the company changes and thus, fails to meet the requirements of
listing, and where the company fails again to meet the requirements of listing
within the period as prescribed by the stock exchange;
(2) Where the
company fails to publicize its financial status according to the relevant
provisions or has any false record in its financial statements, and refuses to
make any correction;
(3) Where the company has been operating at a loss
for the latest 3 consecutive years and fails to gain profits in the year
thereafter;
(4) Where the company is dissolved or is announce
bankruptcy; or
(5) Under any other circumstance as prescribed in the
listing rules of the stock exchange.
Article 57 A company shall, when applying for the listing of corporate bonds,
fulfill the following requirements:
(1) The term of corporate bonds
shall be more than 1 year;
(2) The amount of corporate bonds to be
actually issued shall be no less than RMB 50 million yuan; and
(3) The
company shall meet the statutory requirements for the issuance of corporate
bonds when applying for the listing of its bonds.
Article 58 A company shall, when filing an application for the listing of its
corporate bonds, report the following documents to a stock
exchange:
(1) The listing report;
(2) The resolution as
adopted by the board of directors regarding the application for
listing;
(3) The constitution of the company;
(4) The business
license of the company;
(5) The measures for financing through the
issuance of corporate bonds;
(6) The amount of corporate bonds to be
actually issued; and
(7) Any other document as prescribed in the
listing rules of the stock exchange. With regard to an application for the
listing of convertible corporate bonds, the Recommendation Letter of Listing as
produced by the relevant recommendation party shall be reported.
Article 59 Where an application for the listing of corporate bonds has been
subject to the examination and approval of the stock exchange, the company that
has reached a listing agreement thereon shall, within the prescribed period,
announce its report on the listing of its corporate bonds as well as the
relevant documents and make its application documents available for public
reference in designated places.
Article 60 After any corporate bonds are listed, where the relevant company
is in any of the following circumstances, the stock exchange may decide to
suspend the listing of its corporate bonds:
(1) Where the company has
any major irregularity;
(2) Where the company has any major change and
thus fails to meet the requirements for the listing of corporate
bonds;
(3) Where the funds as raised through the issuance of corporate
bonds fail to be used according to the purpose as verified;
(4) Where
the company fails to perform its obligations according to the measures for
financing through the issuance of corporate bonds; or
(5) Where the
company has been operating at a loss for the latest 2 consecutive years.
Article 61 Where a company is in any of the circumstances as described in
item (1) or (4) of the preceding Article herein and the consequences as incurred
therefrom have been verified to be serious, or where a company is under any of
the circumstances as described in any of item (2), (3), or (5) of the preceding
Article herein and fails to eliminate the relevant consequence within a
specified time limit, the stock exchange shall decide to terminate the listing
of corporate bonds of the company. In case a company is dissolved or declared
bankrupt, the stock exchange shall terminate the listing of corporate bonds
thereof.
Article 62 Any company, which is dissatisfied with a decision of a stock
exchange on disapproving, suspending or terminating its listing, may file an
application for a review with the review organ established by the stock
exchange.
Section III On-going Information Disclosure
Article 63 The information as disclosed by issuers and listed companies
according to law shall be authentic, accurate and integrate and may not have any
false record, misleading statement or major omission.
Article 64 As for the stocks that have been publicly issued upon the
verification of the securities regulatory authority under the State Council or
for the corporate bonds that have been publicly issued upon the verification of
the department as authorized by the State Council according to law, the
prospectus or the measures for financing through the issuance of corporate bonds
shall be announced. In an IPO of stocks or corporate bonds, the relevant
financial statements shall be announced as well.
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