China Securities Regulatory Commission, Regulatory Guidelines for Listed Companies No.1 — Regulatory Requirements in Respect of an Outstanding Deficit After a Material Asset Restructuring by a Listed Company

中国证券监督管理委员会上市公司监管指引第1号—上市公司实施重大资产重组后存在未弥补亏损情形的监管要求

Listed companies required to disclose outstanding deficit after restructuring.

Clp Reference: 2330/12.03.23 Promulgated: 2012-03-23

Issued: March 23 2012

 

Main contents: When, after a listed company issues shares to purchase assets and carries out a material asset restructuring, the new listed company entity succeeds to the entire outstanding deficit of the former listed company entity. The listed company shall fully disclose the risk of its being unable to make up the deficit and give a special risk alert in an interim announcement and its annual report (Article 3).

When carrying out the material asset restructuring, the relevant listed company shall fully disclose the impact of its succeeding to the entire deficit and give a special risk alert in the restructuring report (Article 4).

Related legislation: PRC Company Law (Amended), Oct 27 2005, CLP 2005 No.10 p.21; and Measures for the Administration of Securities Offerings by Listed Companies, May 6 2006, CLP 2006 No.6 p.47

clp reference:2330/12.03.23prc reference:证监会公告 [2012] 6号promulgated:2012-03-23

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