On May 31, 2024, Coolpad Group (02369.HK) received a letter from the Stock Exchange stating that the company resumed trading on the Stock Exchange with the following guidelines: (a) independently investigate the allegations, disclose the investigation results, evaluate the impact on the company's business operations and financial condition, and take appropriate remedial measures; (b) publish all unpublished financial performance as required by listing rules and handle any review revisions; (c) prove that there are no reasonable regulatory issues related to the integrity, ability, and/or character of the group's management and/or any person who has a significant impact on the company's management and operation, which may constitute risks to investors and damage market confidence; (d) conduct independent internal monitoring and review to prove that the company has appropriate internal monitoring and procedures to fulfill its obligations under listing rules; (e) prove that the company complies with section 13.24 of the listing rules; and (f) inform the market of all important information for shareholders and other investors to evaluate the company's condition.
The company must achieve all the resumption guidelines, remedy the suspension of trading and fully comply with the listing rules to satisfy the Stock Exchange before the securities can be approved for resumption of trading. In this regard, the company must bear the main responsibility and develop a resumption action plan. Although the company can request resumption plan guidelines from the Stock Exchange, its resumption plan can be implemented without the prior approval of the Stock Exchange. In case there are any changes in the company's situation, the Stock Exchange may revise or supplement the resumption guidelines.
The trading suspension continues.