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Article 38
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"Material information" means the occurrence of any event listed below with respect to an issuer:
- Dishonor of a negotiable instrument due to insufficient funds, refusal by a financial institution to honor a transaction, or other loss of creditworthiness.
- Search by law enforcement authorities, or any litigious or non-litigious matter, administrative disposition, administrative litigation, precautionary injunctive procedure, or compulsory execution, with a material effect on the finances or business of the issuer.
- Major decrease in production or a full or partial work stoppage, or lease of a plant or important equipment of the issuer to others, or a pledge on all or a major portion of its assets, with a material effect on the issuer's business operations.
- The occurrence of any event under Article 185, paragraph 1 of the Company Act.
- Ruling by a court to prohibit the transfer of stock of the company pursuant to Article 287, paragraph 1, subparagraph 5 of the Company Act.
- Signing, amendment, termination, or rescission of an important memorandum of understanding, a plan for strategic alliance or other business cooperation plan or important contract, or change in important content of a business plan, or completion of development of a new product, or successful development and formal entry into the full-scale production stage of an experimental product, or purchase of an enterprise of another, or acquisition of or assignment to another of patent rights, trademark rights, copyrights, or other intellectual property transactions, with a material effect on the finances or business of the company.
- Occurrence of a disaster, group protest, strike, environmental pollution event, information security incident, or other material event, with a material effect on the finances or business of the issuer.
- Change in chairman, general manager, or one-third or more of the directors.
- Change of the attesting CPAs for a reason other than internal adjustment at the accounting firm of the attesting CPAs.
- Material change or significant delay in progress of any item of the fundraising plan.
- Resolution by the board of directors to distribute dividends or interest, or failure to make the distribution by the deadline therefor.
- Resolution by the board of directors to buy back security tokens, expiration of a buyback period, or completion of execution of a buyback.
- Resolution by the board of directors or a shareholders meeting to apply for termination of trading of the issuer's security tokens on the trading platform.
- Announcement of suspension or termination of trading of the issuer's security tokens on the trading platform under Article 40.
- Mass media reportage or information circulating around the market sufficient to affect the prices of the issuer's security tokens.
- Any other event with a material effect on the rights or interests of investors.
If an event set out in any subparagraph of the preceding paragraph occurs with respect to an issuer, the issuer shall input the relevant information into the information disclosure section designated by the securities firm before the beginning of trading hours on the business day next following the occurrence of the event.
If any event in paragraph 1 applies to the issuer and it has not duly made a public disclosure of material information, the securities firm shall notify the issuer to input the related information into the designated information disclosure section within a specified deadline.
No information disclosed pursuant to the subparagraphs of paragraph 1 may make any description of an exaggerated nature or that resembles advertising or promotional language, nor may the information involve any misrepresentation, concealment, or anything that could mislead others.
To ensure the correctness of and equal access to information, an issuer may not externally disclose any information on its own before publishing the material information through the aforesaid information disclosure section.
If there is any material change in the development of subsequent events with respect to material information that an issuer has published, the issuer shall update or supplement in a timely manner the content of the relevant information in accordance with the provisions under which the information was originally disclosed.
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