Kuke Music (KUKE) NYSE Form 25 to delist ADSs, 10-share ratio

Kuke Music Holding Ltd (KUKE) announced that the New York Stock Exchange filed a Form 25 to remove its American Depositary Shares from listing and/or registration under Section 12(b) of the Securities Exchange Act.

Rhea-AI Filing Summary

Kuke Music Holding Ltd (KUKE) announced that the New York Stock Exchange filed a Form 25 to remove its American Depositary Shares from listing and/or registration under Section 12(b) of the Securities Exchange Act.

The class affected is American Depositary Shares, each representing ten Class A Ordinary Shares. The filing states that the Exchange has complied with its rules to strike the securities from listing, and references provisions for voluntary withdrawal compliance by the issuer.

Positive

• None.

Negative

• NYSE filed Form 25 to remove KUKE ADSs from listing/registration under Section 12(b), a materially adverse trading venue change.

Insights

Equity market structure analyst

NYSE Form 25 removes KUKE ADSs from listing; trading impact is material.

Kuke Music Holding Ltd is the subject of a Form 25 filed by the New York Stock Exchange, which removes its ADSs from listing and/or registration under Section 12(b). This is the formal mechanism U.S. exchanges use to delist a security.

The filing identifies the affected security as American Depositary Shares, each representing ten Class A Ordinary Shares. It notes the Exchange has complied with its rules to strike the class and cites the rule provision for issuer voluntary withdrawal compliance, without specifying the underlying reason in this excerpt.

For investors, removal from a national exchange typically reduces trading visibility and liquidity on that venue. Any subsequent trading venue or timing is not stated in the provided excerpt.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What action did the NYSE take regarding KUKE?

The NYSE filed a Form 25 to remove Kuke Music’s ADSs from listing and/or registration under Section 12(b).

Which KUKE securities are affected by the Form 25?

The filing covers American Depositary Shares, each representing ten Class A Ordinary Shares.

Who filed the Form 25 for KUKE (NYSE: KUKE)?

The New York Stock Exchange LLC filed the notification.

What does each KUKE ADS represent?

Each ADS represents ten (10) Class A Ordinary Shares.

Under what rule was the delisting action referenced?

The notice references Section 12(b) and related rules including 17 CFR 240.12d2-2 provisions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 11/05/2025 - 11:21 AM EST Learn about SEC filing dates

UNITED STATES

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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 25

NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION
UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

Commission File Number

001-39859

Issuer:	Kuke Music Holding Ltd
Exchange:	NEW YORK STOCK EXCHANGE LLC

(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)

Address:	ROOM 303 BEIJING BROADCASTING TOWER
	Beijing		100024
Telephone number:					86-10-6561-0392

(Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)

American Depositary Shares (each representing ten (10) Class A Ordinary Shares)

(Description of class of securities)

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

17 CFR 240.12d2-2(a)(1)

17 CFR 240.12d2-2(a)(2)

17 CFR 240.12d2-2(a)(3)

17 CFR 240.12d2-2(a)(4)

Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange. ¹

Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

Pursuant to the requirements fo the Securities Exchange Act of 1934, NEW YORK STOCK EXCHANGE LLC certifies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this notification to be signed on its behalf by the undersigned duly authorized person.

2025-11-05	By	Anthony Sozzi		Analyst, Market Watch
Date		Name		Title

¹ Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR 240.19d-1 as applicable. See General Instructions.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.