Both of the above situations are possible. If all trademarks are rejected, the registration certificate will not be issued, and it will end when the rejection is issued.
Generally, it takes 9-11 months from the date of submission of trademark application for the review results to be issued, and a preliminary announcement or notice of rejection or partial rejection will be issued. The preliminary announcement period is 3 months, and there is no objection during the announcement period. It will take about one month to get the trademark registration certificate. That is to say, if everything goes well, it will take about 14 months from application to getting the registration certificate.