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Translated by: MOS Translation team – Beyond X
On May 4th, the U.S. Securities and Exchange Commission (SEC) added a sixth batch of 88 companies to the list of entities facing delisting risk. The list has increased to 128, involving many well-known companies such as JD.com and NetEase.
Based on a foreign report, the Chinese companies that were added to the SEC’s list including JD.com, Pinduoduo, Bilibili, NetEase, Ctrip, KE Holdings, Huaneng Power International, Aluminum Corporation of China, China Eastern Airlines, China Southern Airlines, China Mobile, Tencent Music, XPeng Inc, NIO Inc, Autohome, Huazhu, ZTO Express, Full Truck Alliance, Youdao, Baozun, etc.
According to the report, relevant companies can submit evidence before May 25th to prove that they do not meet the conditions to be delisted. If the defense fails, they will be transferred to the “conclusive list”. The firms on the list need to submit documents required by the SEC within three years, and if they do not meet the requirements, they will face immediate delisting in early 2024 after disclosing their 2023 annual reports.
Proofread/Edited by: James L
Posted by: James L
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