HK SH_Listing Requirements香港上市要求.docVIP

Issuer Services  Listing in Hong Kong Going Public - Listing Your Company - Listing Requirements - Basic Listing Requirements for Equities Updated: 4 July 2008  The following shows some of the basic requirements for listing equity securities on the Exchange.? For details of the listing requirements, please refer to our Listing Rules. Note: On 9 May 2008, the Exchange announced?the framework for issuers to list on the Main Board in depositary receipt (HDR) form. The listing requirements for HDR issuers are generally the same as for issuers of shares. Any company which can meet the requirements of the Main Board Listing Rules and is in compliance with its local regulatory regime can apply to list in HDR form. For more information on listing your company by way of HDR, please visit our Depositary Receipt Framework section. (I) Financial?Requirements: Main Board GEM A Main Board new applicant must have a trading record of not less than three financial years and meet one of the following three?financial criteria: ? 1. Profit Test 2. Market Cap/ Revenue Test 3. Market Cap/ Revenue/ Cashflow Test Profit Attributable to Shareholders At least HK$50 million in the last?3 financial years (with profits of at least HK$20 million recorded in the most recent year, and aggregate profits of at least HK$30 million recorded in the?2 years before that) - - Market Cap At least HK$200 million at the time of listing At least HK$4 billion at the time of listing At least HK$2 billion at the time of listing Revenue - At least HK$500 million for the most recent audited financial year At least HK$500 million for the most recent audited financial year Cashflow - - Positive cashflow from operating activities of at least HK$100 million in aggregate for the three preceding financial years Note: The Exchange may accept a shorter trading record period and/or may vary or waive the above profit or other financial standards requirement. For further details, please see Special Listing Requirem