Core Viewpoint - The company, Wenye Group (01802), has received a decision from the Listing Committee indicating that it does not meet the operational scale and asset value requirements to support its operations, leading to a suspension of trading in its shares [1] Group 1 - The Listing Committee conducted a review hearing on September 2, 2025, regarding the company's listing status [1] - On September 23, 2025, the company was informed that it failed to comply with the requirements of Listing Rule 13.24, resulting in the decision to maintain the suspension of trading [1] - The company has the right to request a review of the Listing Committee's decision by the Listing Review Committee, with a deadline for submission by October 3, 2025 [1] Group 2 - If the company does not apply for a review, trading in its shares will be suspended seven business days after the Listing Committee's decision, specifically on October 6, 2025 [1] - The company is currently reviewing the Listing Committee's decision and is in discussions with internal and professional advisors regarding the potential for a review application [1]

根据上市规则第2B.06(1)条及第2B.08(1)条，公司有权于接获该决定后七个营业日内，要求上市委员会 就该决定进行复核。因此，倘公司于2025年9月30日前没有提出任何复核申请，股份将自2025年10月2日 上午九时正起暂停买卖。在此之前，股份将继续买卖。 高雅光学(00907)发布公告，公司已接获联交所于2025年9月19日发出的函件，借此通知公司，联交所根 据上市规则第13.24条裁定公司未能维持足够的业务运作水平及足够价值的资产支持其营运，令其股份 得以继续上市，而且，在公司考虑是否对该决定(定义见下文)申请复核的前提下，根据上市规则第 6.01(3)条股份交易将予暂停。 ...

Core Viewpoint - China Evergrande (HK.03333) is set to be delisted from the Hong Kong Stock Exchange on August 25, 2025, following the announcement that it will not appeal the delisting decision, marking a significant event in the company's ongoing liquidation process [1]. Group 1: Delisting Process - The delisting of China Evergrande was widely anticipated in the market, seen as an inevitable outcome due to the company's inability to meet the resumption requirements after being suspended since January 29, 2024 [2]. - According to Hong Kong's listing rules, a company can be delisted if its securities are suspended for 18 months without meeting the criteria for resumption, which China Evergrande failed to do [2]. - From 2018 to June 2025, a total of 167 companies were forcibly delisted from the Hong Kong main board, with an average of over 30 companies delisted annually from 2022 to 2024 [2]. Group 2: Impact on Creditors and Operations - The delisting does not affect the rights of creditors, who can still assert their claims during the ongoing liquidation process [3]. - The delisting will not impact the operational status of Evergrande's subsidiaries, such as Evergrande Auto (HK.00708) and Evergrande Property (HK.06666), which will continue their normal operations [3]. - The liquidation process will proceed as planned, with creditors able to engage with the liquidators regarding the status of their claims [3]. Group 3: Real Estate Operations - Evergrande's management has stated that the delisting will not directly affect the company's real estate operations, and they will continue to fulfill their commitments to deliver properties [4]. - Some of Evergrande's subsidiaries have already entered bankruptcy proceedings, reflecting a market trend of eliminating companies that no longer meet listing requirements [4].