Five companies will be delisted and listed and delisted from the New York Stock Exchange.

On August 12, five companies including PetroChina, Sinopec, China Life, China Aluminum, and Shanghai Petrochemical Co., Ltd. successively announced that they planned to delist from the New York Stock Exchange.

For the reasons for delisting, the five companies are basically consistent, mainly including two aspects: the current proportion of deposit stocks accounts for a small proportion of the company's H shares and total shares, and the transaction volume is lower than the company's global transaction volume. At the same time, due to different The differences in regulatory rules for listing areas have led to the disclosure obligation of continuing to maintain deposit stocks on the NYSE listing.

In addition, PetroChina said that the company has never used the NYSE secondary financing function and the Stock Exchange and the Shanghai Stock Exchange have strong replacement, which can meet the company's normal operation of financing needs.

In this regard, the person in charge of the relevant departments of the CSRC said that the CSRC noticed the relevant situation. Listing and delisting belong to the normal capital market. According to relevant companies' announcement information, these companies have strictly abide by the US capital market rules and regulatory requirements since the listing of the United States, and make delisting options for their own business considerations. These companies are listed in many places, and the proportion of securities listed in the United States is very small. The current delisting plan does not affect the continued use of domestic and foreign capital market financing and development.

The above -mentioned person in charge stated that the China Securities Regulatory Commission respects the decision made by enterprises in accordance with its actual situation and in accordance with the rules of overseas listing. The CSRC will maintain communication with relevant overseas regulatory agencies to jointly safeguard the legitimate rights and interests of enterprises and investors.

Reporter Wu Xiaolu

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