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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. |