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Monday   9 /30 /2002


Northeast Electrical to resume trade

Yang Yunfei

  

  NORTHEASE Electrical Transmission & Transformation Machinery Manufacturing Co. said Friday its yuan-denominated A shares would resume trade on the Shenzhen Stock Exchange Oct. 14 after it obtained exchange approval.

  The transformer and circuit-breaker maker's shares have been halted since late April after it posted losses for three consecutive years. The firm swung to a net profit of 187.9 million yuan (US$22.69 million) under international accounting standards for the first half of this year from a loss of 106.1 million yuan a year earlier, making it eligible for trade resumption. Its shares last traded at 4.68 yuan.

  However,  Northeast Electrical warned investors that it still faced a possible delisting if it posted an audited operating loss this year.

  Trade of the firm's H shares in Hong Kong would remain suspended pending a review by the Hong Kong Stock Exchange, it said earlier this month. 

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