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Translated by: MOS English Team – WenMeng

Gnews

On May 16, dozens of companies listed on the Hong Kong Stock Exchange requested extensions of the May 15 deadline to release their audited annual results to temporarily avoid trading suspension.

Photo from The Standard news

If a company does not file its audited financial report three months after the end of the fiscal year, its shares are usually suspended. The exchange said it would consider such extension applications on a case-by-case basis. As of Monday morning, at least two stocks on the Hong Kong Stock Exchange had been suspended. A small number of trading suspensions have slowed down the volatility of the stock market. So far, the Hang Seng Index has fallen by 15%.

At least 33 companies are understood to have applied to the Hong Kong Stock Exchange for waivers before the deadline, with most citing delays brought about by the CCP virus ( Covid-19). Those companies include troubled R&F Properties, whose auditor PricewaterhouseCoopers resigned last month.

Source Link: https://gnewsapp.com/post/p2546308/

Proofread by:  Penelope
Edited and Posted by: Penelope

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