On 20 August 2021, SZSE made the decision of approving the relisting of Hui Lyu Ecological Technology Groups Co., Ltd. (hereinafter referred to as “Hui Lyu” or the “Company”) according to the Rules Governing Share Listing, the Implementation Measures on the Re-listing of Delisted Companies and other regulations as well as the review opinions of the Listing Committee.
To implement the reform requirements of the delisting mechanism and regulate delisted companies’ application for relisting, under the guidance of China Securities Regulatory Commission, SZSE formulated the relisting policy on re-listing of delisted companies in 2012 and revised it in 2015, 2018 and 2020. As an important part of the delisting system, the relisting system provides institutional arrangements for delisted companies that have restored the capability to operate as a going concern and improved their corporate governance structure to return to the A-share market. It is of positive significance to smoothing delisting channels, mitigating delisting risks and protecting investors’ rights and interests.
SZSE established a review board consisting of professionals in law, accounting and relevant industry to accept and review the relisting application of Hui Lyu, following the principle of “law-based acceptance and strict review” as well as related working system and workflow. Referring to the IPO review standard, SZSE reviewed such items as whether Hui Lyu meeting relisting conditions, the Company’s capability to operate as a going concern, operation compliance, stability of the management, etc. in an all-around way. In addition, SZSE completed several rounds of inquiry and requested relevant institution to conduct field inspections twice at the Company, actively giving play to regulatory synergy. In the meantime, SZSE organized business departments to oversee the whole procedures, to comprehensively strengthen the quality control of the review and ensure a standard and rigorous procedure.
Next, SZSE will earnestly practice the principles of “system building, non-intervention, and zero tolerance” and the urges to revere the market, revere the rule of law, hold high professionalism, stay alert to risks, and obtain support from various parties. Adhering to the market-oriented, rule-of-law direction, we will arrange the relisting of Hui Lyu in a steady, orderly manner after the Company completes subsequent work such as shares confirmation, registration and custody. In addition, we will continue to control the market access well, smooth the market exit, and strictly implement the delisting system, to improve the market environment and maintain market order. We will also focus on raising the overall quality of listed companies and foster a sound market ecosystem where companies can be listed, delisted and relisted in an orderly manner, and only the fittest survive.
