Jinya Technology Co., Ltd. (hereinafter referred to as "Jinya Technology" or "the Company") received the Shenzhen Stock Exchange's (hereinafter referred to as "SZSE") "Decision on the Termination of Jinya Technology Co., Ltd. Stock Listing" [SZSE Announcement [2020] No. 404] on May 14, 2020. On May 14, 2020, the SZSE decided to terminate the listing of the Company's stock. On June 2, 2020, the Company submitted a review application to the SZSE regarding this decision. The SZSE accepted the application according to the relevant provisions of the "Rules for the Listing of Stocks on the Growth Enterprise Market (Revised November 2018)" and the "Working Rules of the Appeal Review Committee of the Shenzhen Stock Exchange," and held a review meeting on June 12, 2020. On June 17, 2020, the Company received the "Review Decision on Stock Termination of Listing" [2020] No. 1 issued by the SZSE. According to Article 3 of the "Working Rules of the Appeal Review Committee (Revised 2018)," the SZSE ultimately decided to uphold the termination of listing for Jinya Technology's stock. This decision is final.
According to Article 13.4.23 of the "Rules for the Listing of Stocks on the Growth Enterprise Market (Revised November 2018)," if the SZSE makes an acceptance decision and the Appeal Review Committee upholds the termination of listing decision, the Company's stock will enter the delisting adjustment period starting from the next trading day after the Appeal Review Committee's decision. Therefore, the Company's stock will enter the delisting adjustment period starting June 18, 2020.
1. Main Content of the Termination of Listing Review Decision
(1) The Termination of Listing Decision
The SZSE's "Decision on the Termination of Jinya Technology Co., Ltd. Stock Listing" [SZSE Announcement [2020] No. 404] determined that Jinya Technology had negative net profits attributable to shareholders of the listed company for three consecutive fiscal years (2016, 2017, and 2018). Jinya Technology's stock was suspended from listing on May 13, 2019. The 2019 annual report disclosed by Jinya Technology on April 28, 2020, showed that the audited net profit and net profit after deducting non-recurring gains and losses for 2019 were both negative, triggering the termination of listing conditions as per Article 13.4.1 (2) of the "Rules for the Listing of Stocks on the Growth Enterprise Market (Revised November 2018)." Based on Articles 13.4.1 and 13.4.6 of the same rules and the review opinions of the Listing Committee, the SZSE decided to terminate the listing of Jinya Technology's stock.