根据GEM上市规则第4章，公司有权将委员会决定转交GEM上市复核委员会复核。GEM上市规则第 4.08(1)条规定，复核申请须于委员会决定发出后7个营业日内送达GEM上市复核委员会秘书。公司正徵 询其专业顾问的意见，并将考虑申请复核委员会决定。谨此提醒公司股东及潜在投资者，公司尚未决定 是否要求复核委员会决定，倘进行复核，GEM上市复核委员会的复核结果亦属未明。公司股份继续停 牌。 环球友饮智能(08496)公布，就有关停止其在新加坡的业务运营，GEM上市委员会对上市科决定的复核 聆讯已于2025年11月11日举行。于2025年11月24日，该司接获GEM上市委员会函件，知会该公司经考 虑公司作出的所有声明(包括书面及口头)后，GEM上市委员会同意上市科决定，即收购事项及出售事项 构成一系列交易及安排的一部分，该等交易及安排构成一宗尝试实现售卖机业务上市并规避GEM上市 规则第11章项下新上市规定的事件。因此，收购事项及出售事项应被视作一项交易，并将构成GEM上 市规则第19.06B条项下反收购。在并未有完成新上市程序及遵守相关规定情况下，GEM上市委员会认 为，鉴于收购事项及出售事项已告完成，公司不再适合上 ...

Core Viewpoint - The Hong Kong Stock Exchange has reprimanded Kaisa Group Holdings Ltd. and its current and former directors for failing to comply with listing rules regarding the timely submission of documents related to two major transactions completed in August 2023 [1][2]. Group 1: Company Actions and Compliance - Kaisa Group failed to send the required circulars regarding two major transactions within the stipulated timeframe, leading to a delay of 16 months in sending the documents after the exchange's investigation began [2][3]. - The company was granted an extension until December 2023 to send the circulars, but despite multiple reminders from the exchange, it did not comply until April 2025 [2][3]. - The company lacked adequate internal controls to monitor compliance with the listing rules and failed to ensure timely communication with the Stock Exchange [2][3]. Group 2: Directors' Responsibilities - The directors of Kaisa Group were found to have not fulfilled their duties, relying excessively on the former company secretary for the preparation and submission of the circulars without proper oversight [2][3]. - The chairman and the former company secretary did not act as the main communication channels between the company and the Stock Exchange, failing to report inquiries to the board in a timely manner [3]. - All involved parties acknowledged their violations of the listing rules and proposed remedial measures, which have either been implemented or are in the process of being implemented [3].

Core Points - The Hong Kong Stock Exchange has condemned Kaisa Group Holdings Ltd. and its seven current and former directors for failing to send a circular regarding two major transactions completed in August 2023 and for not responding to inquiries within the stipulated timeframe [1][3] Group 1 - Kaisa Group Holdings Ltd. and its seven individuals, including the chairman and CEO, have been identified in the disciplinary action [2] - The deadline for the company to send the circular has been extended to December 2023, but the company only sent it in late April 2025, resulting in a 16-month delay [3] - The company failed to have adequate internal controls to monitor compliance with the Listing Rules, leading to a lack of timely communication with the Stock Exchange [4] Group 2 - The relevant directors did not fulfill their responsibilities and relied excessively on the former company secretary for preparing and sending the circular [4] - The chairman and the former company secretary did not act as the main communication channel with the Stock Exchange and failed to report inquiries to the board in a timely manner [4] - All relevant individuals acknowledged their violations of the Listing Rules and proposed a series of remedial measures, which have been or will be implemented [5]

Core Viewpoint - The company, 拉近网娱 (08172), is facing potential delisting from the GEM market due to insufficient business operations and asset levels as per GEM listing rules [1] Summary by Relevant Sections Company Announcement - The board of the company has informed shareholders and potential investors about a review hearing scheduled for October 21, 2025, regarding the listing decision [1] - On November 3, 2025, the company received a letter from the Stock Exchange indicating that the committee believes the company has not maintained sufficient business operations and asset levels to ensure continued listing [1] Listing Rules and Procedures - According to GEM listing rules, the company has the right to submit the committee's decision for review by the GEM Listing Review Committee [1] - The company can request this review within 7 business days after the committee's decision, which is by November 12, 2025 [1] - The company is currently seeking advice from external consultants to decide whether to appeal the committee's decision [1] Trading Status - Unless the company applies for a review, its shares will be suspended from trading starting November 13, 2025, after the 7 business days following the committee's decision [1] - Until a decision is made regarding the appeal, the company's shares will continue to trade [1]

Core Viewpoint - Far East Holdings International (00036) has received a letter from the Stock Exchange indicating that the Listing Committee has determined the company has failed to maintain sufficient operational levels and asset value to support its continued listing [1] Group 1 - The Listing Committee's decision is based on the consideration of all documents submitted by the company and the Listing Division, both written and oral [1] - The Listing Committee has decided to uphold the suspension of trading in the company's shares as per Listing Rule 6.01(3) [1] - The company is currently reviewing the Listing Committee's decision and is engaged in internal discussions regarding the possibility of requesting a review by the Listing Review Committee [1]

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]

Core Viewpoint - The company, Gao Ya Optical (00907), has received a letter from the Stock Exchange on September 19, 2025, indicating that it has failed to maintain sufficient business operations and asset value to support its listing, leading to a potential suspension of its shares trading [1] Group 1 - The Stock Exchange has determined that the company does not meet the operational and asset value requirements as per Listing Rule 13.24 [1] - The company has the right to request a review of this decision within seven business days of receiving the notice, as per Listing Rules 2B.06(1) and 2B.08(1) [1] - If the company does not file for a review by September 30, 2025, trading of its shares will be suspended starting from 9:00 AM on October 2, 2025 [1]

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].