you can make the transfer of shares. ����In addition

Reporter includes a trainee reporter Xia Beibei Beijing under 1%, which is China's securities market in the past 10 years the average annual withdrawal rate. This figure is far below the 6%, NASDAQ and NYSE United Kingdom AIM 12%. The last 5 years, we have no company a shares delisting. "Delisting" is becoming the fundingA challenge of the market. But the challenge is trying to solve the gem. Recently, the SFC and the Shenzhen Stock Exchange, said preliminary programme has been forming for delisting, the gem system, to seek the views of the community, the move caused great concern in the market. When journalists call the Shenzhen Stock Exchange, the gem management staff of the Department, also in the process of further justification, does notDisclose schedule and details. Recommended reading hexun about City Hall: next week's a-shares or to five major gold stocks are now buying opportunity in consumption will burn at the passion 8 zhanchiyufei muddy water and focus: who discovered fresh black who now cannot wait shareholders Li 8 a 12-year Player 8 deep investments to realize the IPO of a tiger 29 months "Ring "go near trillion [micro-Bo] Li Daxiao: for SFC initiatives applauded [Unit 's] shaking good will let short died of is miserable in programme no announced zhiqian, industry persons to out has own on venture plate back city system of recommendations, they General hope this once of back city system don't then discount, and hope regulatory layer can will back city processing of permission decentralization to stock exchange. And withThree quarterly disclosures, Hanson moved (300,081, unit) 's performance also made it a potential delisting risks. "Delisting don't discount" direct withdrawal often make people understand this word can no longer be traded. Shenzhen Stock Exchange said it before, quit the two-step buffer system will be set up, first of all, before the delisting will be given a 30-day stock trading time, second, After the delisting will be listed on the Agency share transfer system, you can make the transfer of shares. ����In addition, the 18th Commission briefing and head made "establishment of a separate section" perfect gem system. "I understand the assertion is that delisting if gem company later circulation needed, turned to share agent systems. In it also opened up aA plate to accept, to distinguish Board of delisting companies and short-term financing or restructured company, not completely swtor power leveling, withdrawing. ����"Shanghai Stock managed trading center, said Zhang Yunfeng to the Huaxia times reporters. Zhang Yunfeng said, in fact, I want to directly cancel system introduced, can lead not to condition the company really retire, not justTransfers is a contradiction or buffering. Haitong securities (600,837, unit) senior analyst Chen zhengrong, told reporters: "the best is not even a buffer and transition, is clean and complete withdrawal, without compromise, too many intermediate links easy to take to the Board the kind of circuitous delisting the old road. Only really have a company retire, enterprises will only deterForce. "" Required by the gem now, after the temporary suspension of listing if net profit for the year is positive, you can resume listing. I think it should be ' net profit ' changed to ' net profit after deduction of nonrecurring ' because both the financial subsidies for the debt restructuring can lead to report profits. If you do not deduct, net profit was too easy. "Chen ZhengChina milk said. Companies complete withdrawal, the ultimate losses are borne by investors. ����The interests of investors in this process and how to protect it? Chen zhengrong believes that this involves a responsibility issues of delisting companies and executives. "Diyajin can take into account a delisting risks, each year from the profits of listed companies and executive remuneration in the extraction,Dan delisting of the company, can be used to compensate for delisting impaired investors. In addition, but also on the delisting of the company's executives due to dereliction of duty. Civil compensation caused by the delisting of the company, but also to introduce unlimited joint and several liability. "" Delisting is one of China's stock markets will close, and will certainly lead to some people pose a risk, I believe that we could take the gem backTrial operation of the urban system, slowly perfecting a framework and standards that everyone can accept. ����"Financial commentators Hou Ning said. SFC should decentralization to the Shenzhen Stock Exchange it is learnt that the delisting, the gem of the new system, on "delisting criteria", the Shenzhen Stock Exchange added two new standards: a provision is that if companies 3 times in 3 years by stock exchangeOpen condemnation will be delisting. ����The other is, if stock prices continued in the 20 trading days less than the par value per share, it needs delisting. For the above two criteria, investors have questioned star wars the old republic power leveling, the actual possibilities of action are not large, there is no real significance. Second, in the a-share market, stock price below the face value of 20 years in the case of rare, not to mention the 20 consecutiveSessions. In this regard, Chen zhengrong said: "we are delisting criteria before they are mainly around the fundamentals of the company released two standard reflects the standard with the requirements of the market to the delisting of the company, actually makes sense. Our goal is to let the market decide who the delisting. "Zhang Yunfeng, says:" as one of the criteria for delisting of stock price, in itself, in line withInternational practice, is the true power of decision over to the investor, perfecting some of these companies just want to ' beautify the fundamentals ' escape from delisting has ignored the market problems, is a good start. "" Now there is a very important issue. Who is the right of a decision to master the delisting of the company? This power should be given standing regulation, listed companies know best securitiesExchange, however, mastered the powers of the SFC. My suggestion is that on the withdrawal issue, the SFC should thoroughly delegation of authority to the stock exchange, then they at a later stage on the stock exchange decided to conduct a compliance audit can be. "Chen zhengrong said such litigation disputes even after delisting, only instead of administrative litigation of civil procedure, in accordance with theListing agreement for resolution, also to avoid a delisting decision rights abuses arising from the concentration by the SFC. It appears from the various phenomena, gem delisting systems launches really near, which companies most at risk? Reporters found by querying the Wind data, Hanson moved to potential risks. Wind data display, 2010 annual report of the company's net profitDown 44.74%, net income fell on the gem ranks fourth in the list. In 2011, the company fell 77.12% three quarterly performance, still held the fourth place position in the list.