SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
___________
 
FORM 8-K
___________
 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
 
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): October 5, 2011

KEYUAN PETROCHEMICALS, INC.
 (EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
 
Nevada
 
  333-124837
 
 45-0538522
(STATE OR OTHER JURISDICTION OF
INCORPORATION OR ORGANIZATION)
 
(COMMISSION FILE NO.)
 
(IRS EMPLOYEE IDENTIFICATION NO.)
 
Qingshi Industrial Park
Ningbo Economic & Technological Development Zone
Ningbo, Zhejiang Province
P.R. China 315803
 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
 
(86) 574-8623-2955
 (ISSUER TELEPHONE NUMBER)
 
Silver Pearl Enterprises, Inc.
1541 E. Interstate 30
Rockwall, Texas 75087
 (FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
 
––––––––––––––––
Copies to:
 
Hunter Taubman Weiss LLP
17 State Street, Floor 20
 New York, NY 10004
Tel: 212-732-7184
––––––––––––––––

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see  General Instruction A.2. below):

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 
SECTION 3 - Securities and Trading Markets

Item 3.01
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On October 5, 2011, Keyuan Petrochemicals, Inc. (the “Company”) received a letter from the Listing Qualifications Hearings Department of the NASDAQ Stock Market LLC (“Nasdaq”) stating that the Nasdaq Hearings Panel has exercised its discretionary authority pursuant to NASDAQ Listing Rule 5101 to delist the Company’s securities from the Nasdaq Stock Market and will suspend trading in the Company’s shares effective at the open of business on Friday, October 7, 2011.  This will terminate the trading halt imposed by NASDAQ and will result in the Company’s shares trading on the over-the-counter market.

The Company intends to request that the Nasdaq Listing and Hearing Review Council review the decision of the Hearings Panel within 15 days from the date of the Hearings Panel’s decision, as permitted by NASDAQ Listing Rule 5820.
 
Item 9.01
Financial Statements and Exhibits
 
(d)     Exhibits
 
 99.1    Press Release issued by the Company on October 6, 2011.
 
 
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SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
Keyuan Petrochemicals, Inc.
 
       
Date:  October 6, 2011
By:
/s/ Chunfeng Tao                        
 
   
Name:  Chunfeng Tao
 
   
Title:    Chief Executive Officer
 
       

 
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