CH BEIDAHUANG (00039) has announced that on July 30, 2026, it received a letter from the Stock Exchange of Hong Kong Limited (the "Exchange") containing the following resumption guidance for the resumption of trading in the company's shares: (a) publish all outstanding financial results as required by the Listing Rules and address any audit modifications; (b) engage an independent internal control consultant to conduct an independent internal control review and demonstrate that: (i) any identified material deficiencies related to the trading suspension have been rectified and all necessary remedial measures have been properly implemented; (ii) the company's internal controls are adequate to effectively achieve their objectives and enable the company to comply with the Listing Rules and other legal and regulatory requirements, including, but not limited to, those related to its financial reporting cycle; (c) demonstrate that the company complies with Rule 13.24 of the Listing Rules; and (d) announce all material information to the market for the assessment of the company's condition by its shareholders and investors.
Under Rule 6.01A(1) of the Listing Rules, the Exchange may cancel the listing of any securities that have been suspended from trading for 18 consecutive months. For the company, the 18-month period expires on September 30, 2027. If the company fails to remedy the issues causing the suspension, fulfill the resumption guidance, and fully comply with the Listing Rules to the satisfaction of the Exchange, and resume trading by September 30, 2027, the Exchange's listing department will recommend that the Listing Committee cancel the company's listing status. Under Rules 6.01 and 6.10 of the Listing Rules, the Exchange also has the right to prescribe a shorter specific remediation period where appropriate.
The company is also required to comply with the Listing Rules and all applicable laws and regulations of Hong Kong and its place of incorporation before resuming trading. The Exchange requires the company to announce the resumption guidance as soon as practicable, and to comply with the 18-month period for meeting the resumption guidance, remedy the issues causing the suspension, fully comply with the Listing Rules to the Exchange's satisfaction, and resume trading to avoid delisting. Despite the suspension, the company must fulfill its obligations under the Listing Rules, including, but not limited to: (a) minimizing any period of suspension as far as possible in accordance with Rule 6.05 of the Listing Rules; (b) complying at all times with continuing obligations under the Listing Rules, such as notifiable and/or connected transactions under Chapters 14 and 14A, and obligations regarding the publication of periodic financial results and reports (or management accounts if unavailable) under Rules 13.46 to 13.49; (c) making announcements on inside information required to be disclosed under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong); and (d) publishing quarterly updates on developments, including but not limited to: (i) its business operations; (ii) a resumption plan detailing actions taken and proposed to remedy the issues causing the suspension, achieve the resumption guidance, and fully comply with the Listing Rules and resume trading, accompanied by a clear timeline for each work phase to achieve the resumption guidance and resume trading as soon as practicable and in any event before the expiry of the 18-month period; (iii) progress in implementing the resumption plan; and (iv) details of any material changes to the resumption plan, including reasons for and impact of any delays. Additionally, the company's shares will continue to be suspended from trading.