Philip shares in the Shenzhen stock exchange that was forced to withdraw the delisting finishing period must not casually buy

In November 2018 08, from 20:56: - financial channel November 8 Beijing Xinhua (reporter Zhu Yifan) today evening, the Shenzhen Stock Exchange to terminate the shares in Philip shares listed on the decision. Philip shares because the stock price has become the first continuous below par and is forced to terminate the listing of the company.

Continuous disclosure of large losses of overdue debt mainly project downtime and other significant risk issues

Since 2018, Philip shares continue to disclose the results of large losses, a number of major projects such as shutdown of overdue debt, major risk issues, investors through the market behavior of the expression of the investment value of the company's judgment. In August 15, 2018, the company's stock closing price below par for the first time (1 yuan). From September 13, 2018 to October 18, 2018, the company stock twenty consecutive trading day closing prices are lower than the par value (1 yuan), which belongs to the "provisions of article 14.4.1 Listing Rules" to terminate the listing of the case. According to the provisions of the "Listing Rules" in article 14.4.11, the company's shares suspended since October 19th.

The Shanghai Stock Exchange announcement said, according to the "Shenzhen Stock Exchange Listing Rules (2018 Amendment)" section 14.4.1 (eighteen), the provisions of article 14.4.2 and audit opinion, the Listing Committee of the November 8, 2018, the company decided to terminate the listing of shares, and since November 16, 2018 to enter the delisting finishing period. The delisting finishing period for a period of thirty trading days, the expiry of the delisting finishing the next trading day, the stock of the company to be delisted.

Shenzhen stock company made the decision to terminate the listing, according to the law to fulfill the hearing procedures, to fully guarantee the defense rights of listed companies. In October 23rd, the Shenzhen Stock Exchange to Philip shares issued "notice book" have the right to inform the application for a hearing on the same day, the company applies for a hearing. 11 month 6 days, the Shenzhen Stock Exchange Listing Committee held in Hong shares listed on the termination of the hearing, fully listen to the statements and arguments, the scene, to obtain a more comprehensive review of information, at the same time to the parties clearly reveal the facts and rules to make the decision to terminate the listing of terms, to ensure return audit legal compliance program, the main market participation rights right guarantee. On the same day, the Listing Committee held a working meeting on the termination of the listing of the shares in Philip matters for consideration. According to the listing committee standard objective fact clear, according to the Shenzhen Stock Exchange made clear, Philip shares decided to terminate the listing of the stocks.

The Shenzhen Stock Exchange: to perform their duties according to the law to fully disclose the risks

The Shenzhen Stock Exchange said, since the shares in Philip related risk of the outbreak, the Shenzhen line to perform supervisory duties, strict information disclosure, to fully disclose the risks, and earnestly safeguard the legitimate rights and interests of small investors:

One is to strengthen the supervision of information disclosure. Philip shares in recent years many gaosongzhuan, asset liability rate rising, the Shenzhen Stock Exchange has listed it as the focus of the supervision of high-risk companies, repeatedly sent a letter urging the company concerned, correcting the relevant notice, to ensure that the information disclosed is true accurate and complete, fully protect the small and medium-sized investors' right to know. 8 2018 27 evening, the company apply for disclosure and JDB Group Co. Ltd. signed the "debt restructuring and business trusteeship agreement" announcement, the Shenzhen Stock Exchange Agreement will pay attention to, do not have to consider whether substantial binding, perform significant uncertainty problems without the board of directors. In the confirmation of the relevant disclosure documents complete case, the Shenzhen stock exchange requires companies to disclose the full text of the agreement and the announcement of the striking position to be the focus of risk prompt, effectively protect the legitimate rights and interests of investors. August 28th morning, jiaduobao issued disclaimers, Shenzhen first time the temporary suspension of the company's shares, and ordered the company to verify the clarification immediately sent a letter after the resumption of trading, maintaining the fairness of information disclosure, integrity, to ensure that investors on the basis of full disclosure of information to make investment decisions.

The two is continuing to reveal the risk of termination of listing. For the first time since August 28, 2018 the shares in Philip stock closing price for 10 consecutive trading days below par value, the Shenzhen stock exchange continued to urge the company to suggest that the risk of the stock may be delisted. In addition, in August 14, 2018, the company due to the disclosure of a quarterly report of 2017, the semi annual report, three quarterly report alleged false records by the Commission to initiate an investigation, major illegal delisting risk of Shenzhen company for the above matters may lead to fully reveal.

Three is according to the law to make disciplinary. In the 2017 annual report of Philip shares review found that the existence of illegal companies pay for the acquisition of 6 billion 150 million yuan, not timely disclosure of significant administrative penalties, compensation funds due to the return flow, performance forecast disclosure lag and other irregularities, the Shenzhen Stock Exchange to ascertain the facts and start disciplinary procedures, and in September 4th on the company and the relevant responsible persons shall be public condemnation of such sanctions.

Note: the Shenzhen Stock Exchange delisting finishing period must not casually buy

According to the provisions of article 14.4.23 "Listing Rules", the company stock since November 16, 2018 to enter the delisting consolidation period, trading for a period of 30 trading days, the securities referred to will be changed into "Philip retreat", the stock price of the daily price limit of 10%. The expiry of the delisting finishing the next trading day, the Shenzhen Stock Exchange, the company's shares will be delisted.

Delisting finishing period for the delisting of the company is to provide investors in the stock delisting before the last trading opportunity to release risk. The Shenzhen Stock Exchange suggested that investors should carefully read the relevant notice issued by the company and the "Shenzhen stock exchange delisting consolidation period special provisions" business, attention to the investment risk of delisting the company.

After the transfer of listing delisting companies still need to fulfill the obligations of the letter Phi

According to the relevant rules, the company shares will be delisting consolidation period after the expiry of the forty-five trading days, enter the National SME share transfer system (hereinafter referred to as stock transfer system) for the transfer of listing. Shenzhen will urge the company full disclosure after the termination of the stock market investors for stock ownership, registration and custody arrangements, way of contact and information about the company, to protect the interests of investors.

According to the relevant provisions of the "two network company and delisting the company's national SME share transfer system of stock transfer Interim Measures", the shareholders of the company must re perform the stock ownership, registration and custody procedures will be carried out after the transfer. About how investors re perform the above procedures, and how the details of the share transfer system to transfer the delisting of the company shares, the share transfer system can log on the website.

After the termination of listing of shares, the shares in Philip still belongs to Limited by Share Ltd, the company shall comply with the provisions of "company law" and other relevant obligations, continue to fulfill the public company and social responsibility, to ensure the rights of the shareholders of the company in accordance with the law, not because the company stock listing status change and change.

(commissioning editor Zhu Yifan and Li Dong)

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