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State Council Regulations for Domestically-Listed Shares Held Overseas of Companies Limited by Shares
(Promulgated by Decree No.189 of the State Council on December 25, 1995)

Article 1

Article 2

Article 3

Article 4

Article 5

Article 6

Article 7

Article 8

Article 9

Article 10

Article 11

Article 12

Article 13

Article 14

Article 15

Article 16

Article 17

Article 18

Article 19

Article 20

Article 21

Article 22

Article 23

Article 24

Article 25

Article 26

Article 27

Article 28

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China - State Council Regulations for Domestically-Listed Shares Held Overseas of Companies Limited by Shares, 1995

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State Council Regulations for Domestically-Listed Shares Held Overseas of Companies Limited by Shares
(Promulgated by Decree No.189 of the State Council on December 25, 1995)

Article 9

When a Company applies for issuance of domestically-listed shares held overseas for capital increase, the following conditions shall be satisfied other than those provided in paragraphs (1), (2), and (3) of Article 8 of these Regulations:

(1) Shares issued by the Company in its latest public offer have been fully subscribed; the share capital has been used in line with the objective set for the placement; and the capital in operation has generated good returns;

(2) Net assets value of the Company is no less than RMB 150 million yuan;

(3) The Company has no record of serious law violation since the last issuance to the time of the current application;

(4) The Company has registered profits for the past 3 years running, to be counted on a continuous basis if the Company was resulted from reorganization of an existing enterprise, or if a State enterprise is major promoter for the Company; and

(5) Other requirements of the Securities Committee of the State Council.

A Company established by promotion shall meet requirements provided in paragraph (6) of Article 8 of these Regulations when it applies for issuance of domestically-listed shares held overseas for its initial capital increase.


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