Financial news
Written by: Zhang Weilun
2020-02-17 14:32
Last updated: 2020-02-17 14:33Huiyin Holdings (1178) issued an announcement stating that it received a letter from Hong Kong Stock Exchange (0388) on Friday (14th), which stated that the Hong Kong Stock Exchange believes that the company failed to maintain sufficient business operations in accordance with Rule 13.24 of the Listing Rules , And have considerable assets to support operations to ensure that the company's shares continue to be listed. Therefore, the Hong Kong Stock Exchange has decided to suspend trading of shares in accordance with Rule 6.01 (3) of the Listing Rules.
According to the letter, before the company was allowed to resume trading in the shares, it re-complied with Rule 13.24 of the Listing Rules. According to Rule 6.01A (1) of the Listing Rules, if the shares have been suspended for 18 consecutive months, the Hong Kong Stock Exchange may delist them.
According to Rules 2B.06 (1) and 2B.08 (1) of the Listing Rules, the company has the right to decide to submit it to the Listing Committee for review within 7 business days after receiving the decision. Therefore, if the company does not make a review request before the 25th of this month, trading in the shares will be suspended from 9 am on the 26th of this month. Until then, shares will continue to be traded. The company's internal professional consultants review and consider the decision, and will consider whether to submit a review request to the Listing Committee.
The directors of the company pointed out that the social turmoil in Hong Kong in the middle of last year and the outbreak of new coronaviruses in China and Hong Kong since the beginning of this year have seriously affected the existing business, and some of the expansion plans formulated by the company have been suspended and cannot continue as planned. The board of directors will continue to make every effort to improve the company's overall performance and meet the requirements under the listing rules to maintain its listing status.
Huiyin resumed trading at 1 pm today, as of 2:31 pm, the latest reported 0.202 yuan, down 17.6%.
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