The Shanghai Stock Exchange ("SSE") recently issued the Circular on Revising the Administrative Measures of the Shanghai Stock Exchange for Stock Trading on the Risk Alert Board (the "Circular"), immediately effective from the date of issuance.

According to the Circular, adjustments in two aspects are made. The first is adjusting the circumstances in which the intraday ad hoc suspension may occur for a relisted stock on the first day when it is relisted. To be specific, compared with the opening price on that trading day, intraday ad hoc suspension will be triggered when the intraday price undergoes the first rise or drop of 30% or higher and again when the intraday price undergoes the first rise or drop of 60% or higher. Intra-day ad hoc suspension will no longer be applied when the intraday turnover rate reaches or exceeds 30%, one of the circumstances that trigger such suspension stated in the previous edition. The second is adding new provisions regarding the duration of intraday ad hoc suspension and release of announcements on suspension.

(Source: http://www.sse.com.cn)