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Translated by: Himalaya UK – Badman
The U.S. Securities and Exchange Commission (SEC) last Friday of MAY 20th, added another 8 Chinese concept stocks to the “scheduled delisting list”, including China Natural Resources (CHNR), Rise Education (REDU), SECOO (SECO), Aesthetic Medical International (AIH), Euro tech (far east) Ltd. (CLWT), ChinaCache (CCIH), Moxian (BVI) Inc. (MOXC), and GreenTree (GHG).
The eight companies have until June 13th, to provide evidence. Under the Holding Foreign Company Accountability Act (HFCAA), the SEC has the power to delist a foreign public company from an exchange if it fails to file reports required by the U.S. Public Company Accounting Oversight Board for three consecutive years.
At present, the number of Chinese concept stocks listed on the delisting list under the HFCAA has increased to 40, and a total of 148 Chinese Communist Party (CCP) companies are at risk of delisting, taking into account the “scheduled delisting list.”
Edited and Proofread by: Linda Progress
Posted by: Peter Chen
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