Article 11 The Exchange will suspend listing of the shares of a company if any of the following applies

(1) since the company is imposed a delisting risk warning as a result of the occurrence of the circumstance specified in (1) of Article 3, the subsequent audited annual report reveals further negative shareholders' equity;
(2) since the company is imposed a delisting risk warning as a result of the occurrence of the circumstance specified in (2) of Article 3, an adverse opinion or a disclaimer of opinion on the company's subsequent annual report is once again issued by the certified public accountant and the circumstance is deemed serious by the Exchange;
(3) since the company is imposed a delisting risk warning as a result of the occurrence of the circumstance specified in (3) of Article 3, the subsequent audited annual report shows that its outstanding external guarantee (excluding those included in the consolidated financial statements) remains above RMB 100 million and 100 percent of its net asset value;
(4) since the company is imposed a delisting risk warning as a result of the occurrence of the circumstance specified in (4) of Article 3, the subsequent audited annual report shows that the capital misallocated by the company to its controlling shareholder and other related parties exceeds RMB 20 million and 50 percent of its net asset value; or
(5) within 12 months since the company is imposed a delisting risk warning as a result of the occurrence of the circumstance specified in (5) of Article 3, the company receives further public censure by the Exchange.

Article 12 Upon occurrence of any of the circumstances set out in (1), (2), (3) and (4) of Article 11, the company shall, after its board of directors has deliberated its annual report, report to the Exchange and make a public announcement in a timely manner.

Concurrent with the release of its annual report, a risk warning announcement shall be made by the company that its shares are likely to be suspended from listing.

At the release of its annual report, the Exchange will suspend trading of the company's shares and derivatives. A decision will be made within 15 trading days whether or not listing suspension is imposed.

Article 13 Upon occurrence of the circumstance specified in (5) of Article 11, the company shall make a risk warning announcement in a timely manner that its shares are likely to be suspended from listing. Trading in the company's shares and derivatives is suspended from the date of announcement onward.

The Exchange will decide whether or not to suspend listing of the company's shares within 15 trading days of its trade suspension.

Article 14 Since the delisting warning is imposed, the company shall, at least within the first five trading days of each month, disclose the measures taken for resuming listing and the progress of relevant work.