China News Service, May 14th, according to the Shenzhen Stock Exchange website, the Shenzhen Stock Exchange today issued a "Announcement on the Termination of the Listing of LeTV Information Technology (Beijing) Co., Ltd.", saying that LeTV's stocks have been terminated from listing.
LeTV Information Technology (Beijing) Co., Ltd. (hereinafter referred to as "LeTV" or "Company") has negative net assets attributable to shareholders of listed companies (hereinafter referred to as "end-of-period net assets") audited in 2018, The company's stocks have been suspended from May 13, 2019.
On April 27, 2020, LeTV's "Annual Report 2019" revealed that the company's audited net profit attributable to shareholders of listed companies in 2019 (hereinafter referred to as "net profit"), net after deducting non-recurring gains and losses Profits and net assets at the end of the period are all negative, and the financial accounting report was issued by Dahua Certified Public Accountants (special general partnership) with a qualified audit report, which touched on the Exchange ’s “GEM Listing Rules (Revised November 2018)” "The stocks listed in Article 13.4.1 (2) (3) (5) are terminated from listing.
According to the provisions of Articles 13.4.1 and 13.4.6 of the Shenzhen Stock Exchange's "Listing Rules for GEM Stocks (Amended in November 2018)" and the audit opinions of the Stock Exchange's Listing Committee, on May 14, 2020, the Shenzhen Stock Exchange decided to LeTV Online stocks cease listing.
Starting from the next trading day after the expiration of 15 trading days after the Shenzhen Stock Exchange made the decision to terminate the listing of LeTV.com (that is, June 5, 2020), LeTV.com's stock trading has entered a delisting period. If LeTV.com submits a review application and the Shenzhen Stock Exchange Appeal Review Committee makes a decision to maintain the listing termination, the LeTV.com stock transaction will enter the delisting consolidation period from the next trading day after the Shenzhen Stock Exchange Appeal Review Committee makes a decision to maintain the listing termination. On the next trading day after the delisting period expires, the Shenzhen Stock Exchange delisted LeTV's stock.
The Shenzhen Stock Exchange requires LeTV to strictly follow the relevant regulations, and do a good job in the delisting period and the follow-up of termination of listing.