China Network Information Technology (08055.HK) announced that on 17 December this year, the Stock Exchange sent a letter to the company indicating that the company's business lacked sufficient business operations as required by the GEM listing rules and sufficient assets of considerable value to support the operation to ensure that its shares could continue to be listed, and trading in the company's shares would be suspended on 30 December this year in accordance with the GEM listing rules.
According to the letter, the company must re-comply with the requirements 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.
The company said that it is consulting its professional advisers and will actively consider submitting a request for the decision to 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. The company has not yet decided whether to request a review of the decision, and the outcome of the review by the GEM listing Committee is unknown.