Is it necessary to fulfill the disclosure obligation when there is a major lawsuit or arbitration in the GEM listed companies?

According to Article 8.6.3 of the Listing Rules on Growth Enterprise Market of Shenzhen Stock Exchange (revised in February 2020), when a listed company has a major lawsuit or arbitration, it shall timely disclose relevant information:

(1) The amount involved accounts for more than 65438+00% of the absolute value of the company's latest audited net assets, and the absolute amount exceeds 65438+million yuan;

(two) involving the company's general meeting of shareholders, the resolution of the board of directors is applied for cancellation or declared invalid;

(3) It may have a significant impact on the company's production and operation, the stability of control rights, the transaction price of the company's shares and their derivatives or investment decisions;

(4) Other circumstances deemed necessary by Shenzhen Stock Exchange.

Major litigation and arbitration of listed companies shall be calculated cumulatively for 12 consecutive months. If the cumulative calculation reaches the standards mentioned in the preceding paragraph, the provisions of the preceding paragraph shall apply. Those who have fulfilled their disclosure obligations in accordance with the above provisions will no longer be included in the cumulative calculation.

A listed company shall promptly disclose the significant progress of major litigation and arbitration matters and their impact on the company, including but not limited to the judgment results of the first and second trials of litigation cases, the results of arbitration awards and the implementation of judgments and awards.

This article does not constitute any investment advice, because policy issues are time-sensitive. For relevant answers, please refer to the latest content released by official website.