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Amendments

Title:

Taiwan Stock Exchange Corporation Rules Governing Review of Securities Listings  CH

Amended Date: 2021.04.07 (Articles 28-2, 28-4, 28-7 amended,English version coming soon)
Current English version amended on 2020.03.30 
Categories: Primary Market > Review

Title: Taiwan Stock Exchange Corporation Rules Governing Review of Securities Listings(2012.01.20)
Date:
Article 16 Where an issuing company other than a government-owned enterprise applies for the listing of its stock and, in any of the most recent 2 fiscal years, its operating income derived from construction business represents 20 percent or greater of its total operating income, or its gross profit derived from construction business represents 20 percent or greater of its gross profit, or its operating income or gross profit derived from construction business is more than the operating income or gross profit derived from other items of its business activities, it shall in addition to complying with the relevant provisions of these Rules, meet the following conditions:
1. There shall have been 8 full fiscal years since its incorporation.
2. The amount of its paid-in capital shall be NT$600 million or more at the time when it applies for listing.
3. The net worth before distribution of earnings shown in the most recent financial report and for the most recent fiscal year shall exceed one-third of the total value of its assets.
4. The combined value of house units and land to be sold and leasing assets (minus net worth of accumulated depreciation) shown in the most recent financial report and for the most recent fiscal year shall not exceed 70 percent of its net worth. However, if the company has obtained the use license for less than one year, or the company has reclassified under leasing assets any construction project that it launched with respect to superficies it had obtained under a contract stipulating that it may only be leased and not sold, or the lease-out rate of the leasing assets reaches 50 percent or higher, such portion need not be included in the calculation.
5. Its operating income and income before tax for each of the most recent 3 fiscal years shall be in positive figures, and it does not have accumulated deficit in the most recent 3 fiscal years.
6. Where all income accounts are accounted based on the percentage completion method, the full completion method shall be adopted; where a portion of income accounts are accounted based on the percentage completion method, the full completion method and the percentage completion method, as the case may be, shall be adopted. In case the full completion method is used in declaring the income accounts, the profit and loss statements for the most recent 3 fiscal years shall have been prepared based on the percentage completion method and shall have been reviewed by certified public accountants and evaluated by the securities underwriter by comparing with the original profit and loss statements; and both of the auditor's report and the underwriter's evaluation report confirm that its profitability meets the listing criteria.
7. Where its profitability remains in compliance with the criteria for listing of its stock after the profit derived from each project as prescribed below is deducted according to the calculation of certified public accountants:
(1). Purchase or sale of completed or uncompleted construction projects by others (referring to those for which invested construction cost has reached 40 percent or more of total construction cost).
(2). Purchase or sale of bare-land or house units already built.
(3). Acquisition and subsequent sale of either land or house originally held by the opposite party/parties as co-contractor.
(4). Sale of house or land to related party.