| |
 |
10 firms still face delisting
|
THE Shanghai and Shenzhen stock exchanges warned investors on Friday that 10 loss-making companies remain in danger of being delisted, that's two fewer than a week ago.
In their weekly progress report on chronic loss makers, the exchanges said eight companies have yet to provide viable plans to make money.
Another company, Shenzhen Zhonghao (Group) Ltd, which lists A and B shares, has presented plans that government officials are still reviewing.
The 10th company, Guangdong Kingman Group Co, which has A shares in Shenzhen, is just one step away from being delisted. Last week the Shenzhen exchange rejected its appeal for more time to turn its losses into profits.
It is now up to the China Securities Regulatory Commission to decide whether to delist Kingman's shares.
In April the CSRC delisted a company for the first time in the 10-year history of China's markets, and it remains the only delisting to date.
The eight companies that have yet to present money-making plans are: In Shenzhen, A- and B-share listed Gintian Industry (Group) Co Ltd, A-share listed Jilin Light Industrial Group Co Ltd, Nanyang Shipping Group Stock Holding Co Ltd and Mindong Electric Group Co Ltd.
In Shanghai, A- and B-share listed Shanghai Forever Co Ltd, Shanghai Baoxin Software Holding Co, which was formerly called Shanghai Steel Tube Co, A-share listed Xinjiang Baihuacun Co Ltd and Hainan Overseas Chinese Investors Co Ltd.
All 10 firms have suffered from at least three years of losses, and their shares are under“particular transfer,”which means that they can only trade for one minute on Fridays. (SD-Agencies)
|
|
|
|
