BEIJING, May 25, 2021 /PRNewswire/ -- Concord Medical
Services Holdings Limited ("Concord Medical" or the "Company")
(NYSE: CCM), a healthcare provider specializing in cancer care,
research and prevention by operating a network of medically
advanced comprehensive cancer hospitals and standalone radiotherapy
and diagnostic imaging centers in China, today announced
that as of May 25, 2021, it is late
in filing its annual report on Form 20-F for the fiscal year ended
December 31, 2020 (the "2020 Annual
Report") with the Securities and Exchange Commission (the
"SEC"). The Company previously filed a Form 12b-25 with the
SEC on April 30, 2021 for late filing
of the 2020 Annual Report, pursuant to which the 2020 Annual Report
was due to be filed by May 17, 2021.
The Company expects to file the 2020 Annual Report once the audit
of the Company's financial statements for the fiscal year ended
December 31, 2020 is complete.
The Company also reports that on May 18,
2021, the Company received an expected notice from New York
Stock Exchange ("NYSE") Regulation stating that the Company is not
in compliance with the NYSE's continued listing requirements under
the timely filing criteria pursuant to Section 802.01E of the NYSE
Listed Company Manual as a result of the Company's failure to
timely file the 202 Annual Report with the SEC. As required by the
notice, (a) a representative of the Company contacted the NYSE on
May 25, 2021 to discuss the status of
the 2020 Annual Report, and (b) the Company is issuing this press
release, disclosing the status of the 2020 Annual Report, noting
the delay and the reason for the delay, as mentioned above. The
anticipated filing date of the 2020 Annual Report is not known at
this time.
NYSE Regulation notified the Company that the NYSE will closely
monitor the status of the Company's late filing and related public
disclosures for up to a six-month period from the due date of the
2020 Annual Report. If the Company fails to file its 2020 Annual
Report and any subsequent delayed filings within six months from
the filing due date, the NYSE may, in its sole discretion, allow
the Company's securities to trade for up to an additional six
months depending on specific circumstances, as outlined in Section
802.01E of the NYSE Listed Company Manual. It is expected by the
NYSE that the Company will submit an official request for the
NYSE's consideration at the appropriate time. If the NYSE
determines that an additional six-month trading period is not
appropriate, suspension and delisting procedures will commence
pursuant to Section 804.00 of the NYSE Listed Company Manual. If
the NYSE determines that an additional trading period of up to six
months is appropriate and the Company fails to file the 2020 Annual
Report and any subsequent delayed filings by the end of that
period, suspension and delisting procedures will generally
commence. Regardless of the procedures described above, the NYSE
may commence delisting proceedings at any time during the period
that is available to the Company to complete the filing of the 2020
Annual Report, if circumstances warrant.
To provide transparent information about an issuer's filing
status, the NYSE maintains a list of late filers on
www.nyse.com and identifies late filers with an "LF"
indicator. This indicator, or another indicator or letter, may be
appended to the Company's ticker symbol, "CCM," signifying its
status as a late filer. The Company has been posted to the late
filers list on the Listing Standards Filing Status Page on
www.nyse.com on May 24, 2020
and that an "LF" indicator has been appended to the Profile, Data
and News pages of the Company's American Depositary Shares listed
on the NYSE.
About Concord Medical
Concord Medical Services Holdings Limited is a healthcare
provider specializing in cancer care, research and prevention. The
Company operates a network of medically advanced comprehensive
cancer hospitals and standalone radiotherapy and diagnostic imaging
centres in China. The Company
focuses on providing multidisciplinary cancer care approach in all
areas of oncology services in its cancer hospitals. The Company
also equips its hospitals with technologically advanced equipment
such as the state-of-the-art proton therapy system in its
Beijing, Shanghai and Guangzhou cancer hospitals. As of June 30, 2020, the Company operated a network of
27 centers based in 20 hospitals, spanning over 20 cities across 13
provinces and administrative regions in China. To ensure the commitment to the highest
level of clinical care for patients, the Company offers ongoing
education and training for doctors and other medical professionals
in its network hospitals and centres in both local and overseas
medical institutions. For more information, please see
http://ir.ccm.cn.
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SOURCE Concord Medical Services Holdings Limited