Zitong Financial App News, China Network Information Technology (08055) issued an announcement that on December 17, 2021, the Stock Exchange sent a letter to the company regarding its decision, indicating that the company's business lacked sufficient business operation and sufficient value assets to support the operation required by Rule 17.26 of the GEM listing rules to ensure that its shares could continue to be listed. Trading in the Company's shares will be suspended on December 30, 2021 in accordance with Rule 9.04 (3) of the GEM listing rules (this decision).
According to the letter, the company must re-comply with Rule 17.26 of the GEM listing rules, comply with any resumption guidelines that may be formulated by the Stock Exchange and fully comply with the GEM listing rules to the satisfaction of the Stock Exchange in order to restore the listing status of the company's shares. In accordance with Rule 9.14A (1) of the GEM listing rules, the SEHK may revoke the listing status of the company's shares if trading is suspended for 12 consecutive months.
In accordance with Rule 4.06 (1) of the GEM listing rules, the company has the right to request the GEM listing Committee to review the decision within 7 business days from the date of receipt of the decision. The company is consulting its professional advisers and will actively consider requesting that the decision be referred to the GEM listing Committee for review. The company's shares will continue to be traded before deciding whether to request a review of the decision.