China Network Information Technology (08055.HK) issued an announcement on December 30th. According to the letter, the SEHK has decided that the company's business lacks sufficient business operation and valuable assets sufficient to support the operation required by Rule 17.26 of the GEM listing rules to ensure that its shares can continue to be listed, unless the company exercises the right to review the decision in accordance with Chapter 4 of the GEM listing rules. Otherwise, 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.
The company has decided not to exercise its right to review the decision under Chapter 4 of the GEM listing rules. Accordingly, trading in the Company's shares will be suspended on the Stock Exchange from 09:00 on 30 December 2021 until further notice. Subject to this decision, the company must re-comply with Rule 17.26 of the GEM listing rules, comply with all 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 resume trading in 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.