Henan Huali Packaging Receives Delisting Decision After Failing to Disclose Annual Report on Time

On August 13, Henan Huali Paper Packaging Co., Ltd. issued an announcement stating that the company had received the "Decision on Terminating the Stock Listing of Henan Huali Paper Packaging Co., Ltd." issued by the National Equities Exchange and Quotations Co., Ltd.

Henan Huali Paper Packaging Co., Ltd. originated in 1964, was restructured into a private enterprise in 1998, and was successfully listed on the New Third Board in 2014. It is a large comprehensive packaging enterprise integrating products such as paperboard, cartons and color printing, and at its peak it had several subsidiaries.

Henan Huali Paper Packaging Co., Ltd. is in bankruptcy reorganization proceedings, and the bankruptcy administrator carries out reorganization-related work under the guidance of the court.

In the announcement, Henan Huali Paper Packaging Co., Ltd. stated: matters related to the company's stock after the termination of listing will be handled strictly in accordance with the relevant provisions of the National Equities Exchange and Quotations and the Beijing Branch of China Securities Depository and Clearing Corporation Limited.

Decision on Terminating the Stock Listing of Henan Huali Paper Packaging Co., Ltd.

Your company failed to disclose its 2019 annual report within the prescribed time. In accordance with the provisions of Article 16 of the "Implementation Rules for the Termination of Listing of Stocks of Companies Listed on the National Equities Exchange and Quotations" (hereinafter referred to as the "Implementation Rules for Termination of Listing"), our company decides to terminate the listing of your company's stocks.

In accordance with the provisions of Article 22 of the "Implementation Rules for Termination of Listing", your company shall, within the next trading day after receiving this decision, disclose an announcement on receiving the decision to terminate the listing of stocks, explaining the contact person and contact information of the company and the lead securities broker for accepting investor inquiries, actively respond to investor demands, and promptly handle follow-up procedures in accordance with the relevant provisions of the Beijing Branch of China Securities Depository and Clearing Corporation Limited.

In accordance with the provisions of Article 2, Item (2) of the "Implementation Rules for Review of the National Equities Exchange and Quotations", if your company has objections to the decision to terminate listing, it shall submit a review application to our company within 5 trading days from the date of receiving the decision to terminate listing or the date of publication of our company's announcement (whichever is earlier).

In accordance with the provisions of Article 24 of the "Implementation Rules for Termination of Listing", if your company fails to submit a review application within the prescribed period, your company's stocks will resume trading from August 30, 2021, and listing will be terminated on September 13, 2021. During the resumption of trading, our company will apply a special designation to your company's stocks, and the securities abbreviation will be changed to "Delisted Huabao".

In accordance with the "Guiding Opinions on Improving the Termination of Listing System of the National Equities Exchange and Quotations", the "Implementation Rules for Termination of Listing" and other provisions, if the number of shareholders of your company exceeds 200 at the time of termination of listing, it shall enter the special zone established by our company for transfer and fulfill obligations such as corporate governance and information disclosure as a non-listed public company. If it does not enter the special zone but the number of shareholders of your company subsequently exceeds 200, it shall comply with the "Measures for the Supervision and Administration of Non-listed Public Companies", the "Guiding Opinions on Strengthening the Supervision of Non-listed Public Companies" and other provisions, and fulfill relevant obligations such as corporate governance and information disclosure; if issuing stocks to specific objects causes the cumulative number of shareholders to exceed 200, or if stocks are issued to specific objects after the number of shareholders has exceeded 200, an application for approval shall be submitted to the China Securities Regulatory Commission.

National Equities Exchange and Quotations Co., Ltd.

——This article is reprinted from China Packaging Network (pack.cn). Original link: http://news.pack.cn/show-378007.html