*ST Changsheng announced on December 12 that Changsheng Biotechnology Co., Ltd. (hereinafter referred to as "the company") received the "Shenzhen Stock Exchange's preliminary notice of mandatory illegal delisting of the Shenzhen Stock Exchange" on December 11.
According to the announcement, on October 16, 2018, Changchun Changsheng Biotechnology Co., Ltd., a major subsidiary of Changsheng Bio, produced vaccines for violations of laws and regulations. The drug supervision and administration department gave administrative penalties for revoking drug production licenses and penalizing 9.1 billion yuan. The above-mentioned illegal acts are in a bad situation, seriously jeopardizing the national interests and social public interests, and have touched on the serious illegal delisting of the law as stipulated in Articles 2 and 5 of the Shenzhen Stock Exchange's Measures for the Implementation of Significant Illegal Delisting of Listed Companies. The Shenzhen Stock Exchange intends to implement a major illegal violation of the *ST Changsheng stock.
According to the announcement, *ST Changsheng may submit written statements and defenses that do not impose a major illegal and mandatory delisting on the company's stock within ten trading days of receipt of this prior notice. Overdue is deemed to be a waiver of the statement and defense. According to the relevant regulations of the Shenzhen Stock Exchange, “Implementation Measures for Significant Illegal Delisting of Listed Companies†and “Detailed Rules for Self-regulatory Hearing Proceduresâ€, *ST Changsheng may also apply for a hearing. If applying for a hearing, it shall be 10 from the date of receipt of this prior notice. Within the trading day, the application shall be submitted to the Shenzhen Stock Exchange in writing, with specific matters and reasons, and the overdue shall be deemed as the right to waive the hearing. The relevant provisions of the hearing procedure shall apply to the Rules of the Self-Regulatory Hearing Procedure of the Shenzhen Stock Exchange. * ST Changsheng has applied for a hearing before the Shenzhen Stock Exchange made a major illegal and mandatory delisting decision on the company's stock. The Shenzhen Stock Exchange will not give the *ST Changsheng hearing right after the decision to terminate the listing due to the matter.
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