Kai-Fu Lee: Sino-U.S. relations worsen and his investment company will withdraw from the U.S. market Kai-fu Lee, a well-known Chinese venture capitalist and chairman of Sinovation Ventures, said in an interview with Bloomberg that his investment company will withdraw from the U.S. market if relations between China and the U.S. deteriorate further.
Kai-fu Lee also pointed out that his company may try to attract talent from the United States to China instead of investing in American companies.He said that the leader of the Chinese president and U.S. President Trump plan to meet at the Group of 20 summit in Argentina, and the Xi-Trump meeting will affect his next move.Kai-fu Lee did not specify what circumstances would make him give up the idea of withdrawing from the US market. China Securities Regulatory Commission's new restructuring information disclosure requirements: Overseas mergers and acquisitions can be simplified or suspended
Chang Depeng, spokesman of the China Securities Regulatory Commission, said today (16th) that the China Securities Regulatory Commission has revised and issued a new version of the restructuring information disclosure requirements.Or suspend the disclosure of relevant information.
According to Reuters, Chang Depeng introduced that the revision of the letter disclosure guidelines mainly includes four aspects.
The first is to focus on the disclosure of the core elements of the main counterparty and the transaction target. In the future, it will no longer be required to disclose the business development status of the counterparty, major financial indicators, and the list of subordinate companies; the second is to increase the flexibility of intermediary agency verification requirements, allowing intermediary agencies to combine due diligenceDisclosure of verification opinions on actual progress.
Third, on the premise that the target of the transaction has been clarified, it is no longer mandatory to disclose the estimated value or proposed price of the target; fourth, on the premise of fully disclosing the relevant risks, it is no longer required to disclose the defects of ownership and environmental protection of the project, etc.And the expected impact of this transaction on the company's horizontal competition and related transactions.
Chang Depeng also pointed out that in the next step, listed companies should further implement the staged disclosure requirements.The directors, supervisors and senior managers of listed companies must strictly fulfill their confidentiality obligations and do a good job in the registration of insiders in the process of planning and advancing the merger and reorganization plan. Shenzhen Stock Exchange launched a compulsory delisting mechanism for major violations of longevity organisms
According to the Beijing News, on the evening of November 16, the Shenzhen Stock Exchange issued a document stating that the Shenzhen Stock Exchange has launched a compulsory delisting mechanism for major violations of longevity organisms.
The Shenzhen Stock Exchange stated that on October 16, 2018, the main subsidiary of Changsheng Biotechnology Co., Ltd. (hereinafter referred to as Changsheng Biology or the company) was administratively punished by the State Drug Administration for revoking the drug production license due to illegal production of vaccines.decided, and fined and confiscated 9.1 billion yuan (RMB, about S$1.6 billion).Major subsidiaries of Changsheng Biology have committed major violations involving national security, public security, ecological security, production safety, and public health and safety.
According to relevant regulations of the China Securities Regulatory Commission on amendments and implementation measures for major illegal delisting of companies listed on the Shenzhen Stock Exchange, longevity organisms may be involved in major illegal delisting situations, and the Shenzhen Stock Exchange has launched a major illegal delisting mechanism for longevity organisms.
According to the provisions of Article 4 of the notice, the stock of Changsheng Biology will be suspended from the next trading day after the release of the implementation measures, and it will be the starting time for the Shenzhen Stock Exchange Listing Committee to make independent professional judgments and form preliminary review opinions within 15 trading days.In the future, the Shenzhen Stock Exchange will make a decision on whether to implement major violations of the law and force delisting of its stocks in accordance with relevant rules.
If it is decided to implement a major violation of the compulsory delisting of Changsheng Biostock, according to the Shenzhen Stock Exchange’s stock listing rules, the company’s stocks will be subject to delisting risk warnings, listing suspensions and terminations in accordance with regulations. The above-mentioned delisting risk warning period isThirty trading days, and the listing suspension period is six months.After the Shenzhen Stock Exchange made the decision to terminate the listing, the company's stock trading entered the delisting arrangement period, and the trading period was 30 trading days.
The Shenzhen Stock Exchange stated that for major illegal companies that seriously endanger market order, seriously infringe on the interests of the masses, and cause bad social impact, one company will resolutely appear and one will be delisted, so as to purify the market environment, improve market quality, and form a market ecology in which the fittest survive.
