1. The new market value is delisted, and the total market value of 20 consecutive trading days will be lower than RMB 300 million.
2. The face value delisting standard is clearly "1 yuan off", and a transition period is set up: the stock retreat, the "low face" time starts before the new regulations, in accordance with the original rules, in accordance with the original rules Enter the delisting period transaction.
3. Cancel the delisting index of single net profit and revenue indicators. Those with a low net profit of the new rules are negative and revenue is less than 100 million yuan, which will be put on*ST. Those with low net profit after two consecutive years are negative and low in revenue In the 100 million yuan, if it will be terminated; if the delisting risk warning stock is issued a non -standard audit report, the termination standard will be touched.
4. Added major illegal financial fraud indicators: financial fraud for 2 consecutive years, revenue, net profit, profit, balance sheet false records of more than 500 million yuan, and exceeding the corresponding subjects for two years Total total of 50%. When a major illegal delisting exemplation was suspended, it was postponed from the date when the administrative penalty was notified or the court's decision was postponed to the date when the administrative penalty decision or the court's decision took effect.
5. New specifications indicators, information disclosure, standardized operations have major defects, refused to correct and more than half of the directors, two types of directors are not guaranteed by the semi -annual report or annual report. The above situation appeared, and the company's suspension of trading has not been corrected within two months, the implementation of the delisting risk warning, and has not been corrected for two months to terminate the listing.
6. Cancel the suspension of listing and resumption of listing, and clearly end the listing of financial indicators for two consecutive years. If the company's stock is terminated, the convertible bonds can be terminated simultaneously.
7. There is no restriction on the decline in the other type of delisting and finishing period, and the delisting period has been reduced from 30 trading days to 15 trading days.
8. Regarding major illegal forced delisting, it has received an administrative penalty notification or decision before the new regulations and may touch the original rules of the major illegal forced delisting; To the relevant notifications, the financial data from 2015 to 2020 determines whether it touches major illegal forced delisting in accordance with the standards of the original rules, and the financial data of 2020 and subsequent year in accordance with the new standards, whether it touches major illegal delisting.
9. The risk warning board is set up in Shenzhen, and the specific implementation time will be notified separately. Risk alert stocks and delisting shares enter the risk warning board transaction, set up the upper limit of transaction volume, and buy a total of more than 500,000 shares daily. Ordinary investors buy the stock stock for the first time and need to sign the risk to reveal the book. Participating in the delisting and finishing stocks must meet the threshold of "500,000 yuan in assets 2 years of investment experience".
This expansion information:
The decision to make the delisting of listed companies is generally more cautious and stipulates very complicated procedures.
If the listing rules of the New York Stock Exchange 802 02 specifies the following procedures:
⑴ After discovering the listed company is lower than the listing standards, the exchange notify the company within 10 working days within 10 working days ;
: After the company received a notice, responded to the exchange within 45, and proposed a rectification plan in the answer. The plan should be explained that the company reached the listing standards within 18 months r
) The exchange will notify the company to accept its rectification plan within 45 days after receiving the company's rectification plan;
⑷ The company has published the company within 45 days after receiving the exchange of its rectification plan, and the company has already released the company that has already been released Information lower than the listing standard
⑸ Within 18 months after the plan starts, the exchange reviews the company's situation every 3 months. In severe, the decision to terminate the listing;
⑹ After the end of 18 months, if the company still does not meet the listing standards, the exchange will notify the company to terminate the listing and notify the company's right to apply for hearing. The hearing maintains the exchange's decision to terminate the stock market, and the exchange will apply to the SEC;
⑻sec approval, the company's shares will officially terminate the transaction. It can be seen from the above situation that the exchange decides that the stock of a company will be terminated for up to 22 months.
The delistance of the Hong Kong Stock Exchange includes four stages:
⑴ 1st stage of stage: within 6 months after the suspension, the company must regularly announce its current status
: The second stage: After the first stage, if the company still does not meet the listing standards, the exchange will send a written notice to the company to inform it that it does not meet the listing standards and requires it to provide it within 6 months. Reorganization plan ();
n 重 Third stage: After the second stage, if the company still does not meet the listing standards, the exchange will announce that the company will face a delisting due to no continuous operating capabilities, and will face a delisting, and will also face a delisting, and will also face a delisting, and will also face a delisting. The ultimatum to the company requires a reorganization plan again within a certain period of time (usually 6 months).
4) The fourth stage: After the third stage, if the company does not provide a reorganization plan, the exchange announces the company's delisting.
The new delisting rules are as follows:
1. The new market value is delisted, and the total market value of 20 consecutive trading days will be lower than RMB 300 million.
2. The face value delisting standard is clearly "1 yuan off", and a transition period is set up: the stock retreat, the "low face" time starts before the new regulations, in accordance with the original rules, in accordance with the original rules Enter the delisting period transaction.
3. Cancel the delisting index of single net profit and revenue indicators. Those with a low net profit of the new rules are negative and revenue is less than 100 million yuan, which will be put on*ST. Those with low net profit after two consecutive years are negative and low in revenue In the 100 million yuan, if it will be terminated; if the delisting risk warning stock is issued a non -standard audit report, the termination standard will be touched.
4. Added major illegal financial fraud indicators: financial fraud for 2 consecutive years, revenue, net profit, profit, balance sheet false records of more than 500 million yuan, and exceeding the corresponding subjects for two years Total total of 50%. When a major illegal delisting exemplation was suspended, it was postponed from the date when the administrative penalty was notified or the court's decision was postponed to the date when the administrative penalty decision or the court's decision took effect.
5. New specifications indicators, information disclosure, standardized operations have major defects, refused to correct and more than half of the directors, two types of directors are not guaranteed by the semi -annual report or annual report. The above situation appeared, and the company's suspension of trading has not been corrected within two months, the implementation of the delisting risk warning, and has not been corrected for two months to terminate the listing.
6. Cancel the suspension of listing and resumption of listing, and clearly end the listing of financial indicators for two consecutive years. If the company's stock is terminated, the convertible bonds can be terminated simultaneously.
7. There is no restriction on the decline in the other type of delisting and finishing period, and the delisting period has been reduced from 30 trading days to 15 trading days.
8. Regarding major illegal forced delisting, it has received an administrative penalty notification or decision before the new regulations and may touch the original rules of the major illegal forced delisting; To the relevant notifications, the financial data from 2015 to 2020 determines whether it touches major illegal forced delisting in accordance with the standards of the original rules, and the financial data of 2020 and subsequent year in accordance with the new standards, whether it touches major illegal delisting.
9. The risk warning board is set up in Shenzhen, and the specific implementation time will be notified separately. Risk alert stocks and delisting shares enter the risk warning board transaction, set up the upper limit of transaction volume, and buy a total of more than 500,000 shares daily. Ordinary investors buy the stock stock for the first time and need to sign the risk to reveal the book. Participating in the delisting and finishing stocks must meet the threshold of "500,000 yuan in assets 2 years of investment experience".
This expansion information:
The decision to make the delisting of listed companies is generally more cautious and stipulates very complicated procedures.
If the listing rules of the New York Stock Exchange 802 02 specifies the following procedures:
⑴ After discovering the listed company is lower than the listing standards, the exchange notify the company within 10 working days within 10 working days ;
: After the company received a notice, responded to the exchange within 45, and proposed a rectification plan in the answer. The plan should be explained that the company reached the listing standards within 18 months r
) The exchange will notify the company to accept its rectification plan within 45 days after receiving the company's rectification plan;
⑷ The company has published the company within 45 days after receiving the exchange of its rectification plan, and the company has already released the company that has already been released Information lower than the listing standard
⑸ Within 18 months after the plan starts, the exchange reviews the company's situation every 3 months. In severe, the decision to terminate the listing;
⑹ After the end of 18 months, if the company still does not meet the listing standards, the exchange will notify the company to terminate the listing and notify the company's right to apply for hearing. The hearing maintains the exchange's decision to terminate the stock market, and the exchange will apply to the SEC;
⑻sec approval, the company's shares will officially terminate the transaction. It can be seen from the above situation that the exchange decides that the stock of a company will be terminated for up to 22 months.
The delistance of the Hong Kong Stock Exchange includes four stages:
⑴ 1st stage of stage: within 6 months after the suspension, the company must regularly announce its current status
: The second stage: After the first stage, if the company still does not meet the listing standards, the exchange will send a written notice to the company to inform it that it does not meet the listing standards and requires it to provide it within 6 months. Reorganization plan ();
n 重 Third stage: After the second stage, if the company still does not meet the listing standards, the exchange will announce that the company will face a delisting due to no continuous operating capabilities, and will face a delisting, and will also face a delisting, and will also face a delisting, and will also face a delisting. The ultimatum to the company requires a reorganization plan again within a certain period of time (usually 6 months).
4) The fourth stage: After the third stage, if the company does not provide a reorganization plan, the exchange announces the company's delisting.