THE STOCK EXCHANGE OF HONG KONG LIMITED
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)

ANNOUNCEMENT 

In relation to the matter of Mudan Automobile Shares Company Limited
(Stock Code: 8188) 

Cancellation of listing

The Stock Exchange of Hong Kong Limited (the "Exchange") announces that with effect from 9:00 am on 13 March 2013, the listing of the H shares of Mudan Automobile Shares Company Limited (the "Company") will be cancelled under GEM Listing Rule 9.14.

The Exchange announces that the listing of the Company’s H shares will be cancelled with effect from 9:00 am on 13 March 2013 under GEM Listing Rule 9.14.

Trading in the Company's H shares has been suspended since 29 March 2005.  Accordingly, dealings in the Company's H shares have effectively been suspended for over 7 years.

On 2 November 2007, the Exchange proposed to exercise its right under GEM Listing Rule 9.14 to cancel the listing of the Company’s H shares on the Exchange, and requested the Company to submit a viable resumption proposal within six months. If the Company failed to do so, the Exchange would cancel the listing of the Company's H shares.  On 25 April 2008, the GEM Listing Committee granted an extension of deadline to 11 August 2008 for the Company to submit a viable resumption proposal.  However, the Company was unable to submit a viable proposal and it requested for a further extension of the submission deadline.  On 7 July 2011, the GEM Listing Committee considered it inappropriate to grant a further extension and decided to cancel the listing of the Company’s H shares on the Exchange. The Company sought a review of the GEM Listing Committee’s decision.

On 8 November 2011, the GEM Listing (Review) Committee decided to allow the Company to proceed with the resumption proposal submitted on 28 September 2011, subject to compliance with a number of conditions.  The GEM Listing (Review) Committee also decided that if the Company is unable to satisfy any of the conditions, the Exchange will proceed to cancel the listing of the Company’s H shares.

As the Company has failed to satisfy the conditions imposed by the GEM Listing (Review) Committee, the Exchange will cancel the listing of the Company's H shares.

The Exchange has requested the Company to publish an announcement on the same day of this announcement about the cancellation of the Company's listing and the consequences to holders of its securities.

The Exchange advises shareholders of the Company who have any queries about the implications of the delisting to obtain appropriate professional advice.

Ends