What do you mean by pause?

Suspension refers to the suspension of listing of stocks by the regulatory authorities. Because in the stock exchange market, the stock review is very strict, and the stock exchange will review and review the listed securities from time to time. Once a stock is found to have development problems and abnormal trading volume, it will face suspension, and the stock exchange will issue corresponding notices to announce major investors.

1. In terms of stock suspension, the simple point is that some listed companies have illegal behaviors, which were detected by the stock exchange and then suspended. During the period of stock suspension, it is necessary to actively cooperate with the investigation of the stock exchange and seriously investigate the financial situation and ownership structure changes of the listed company corresponding to the stock. It is difficult to determine the time of stock suspension, mainly depending on what causes the suspension. If the reason for suspension disappears, the stock exchange may resume trading and issue relevant announcements. If the pause is serious, special handling may be required.

2. When a listed company publishes important information such as performance reports, dividends, mergers and acquisitions, and changes in equity, it may suspend trading. Securities regulatory authorities believe that listed companies need to clarify and announce matters that have a significant impact on the company. Listed companies are investigated for violations, and the suspension time needs to be decided according to the progress of the matter. The reason why the exchange suspends the trading of listed companies is to solve the problem of asymmetric information of investors. By suspending trading, the abnormal fluctuation of stock price can be prevented, thus protecting the rights and interests of investors. It also highlights the suspension of abnormal warnings such as untimely information disclosure of listed companies, suspected violations of laws and regulations, and stock price changes. After the suspension of trading, it is confirmed that the listed company has fully, accurately and completely disclosed the information about the significant impact as required, and the shares of the listed company can be resumed.

3. The intraday trading price of a stock without price limit is more than 10% (inclusive) for the first time or more than 20% (inclusive) for a single time; Compared with the previous closing price, the intraday trading prices of government bonds, local government bonds and policy financial bonds without price fluctuation restrictions rose or fell by more than 10% (inclusive) for the first time or by more than 20% (inclusive) for a single time; Compared with the previous closing price, the intraday trading price of other bonds without price limit rises or falls by more than 20% for the first time or by more than 30% for a single time; The intraday turnover rate (volume divided by actual circulation on the day of listing) of stocks without price limit exceeds 80% (inclusive); Risk warning with price limit The intraday turnover rate of stocks exceeds 30% (inclusive); Suspected of illegal trading behavior, which may have a serious impact on the transaction price or seriously mislead other investors; Other circumstances that the China Securities Regulatory Commission or the Bourse considers that the intraday temporary suspension can be implemented.