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Previously, five Chinese-listed companies such as Baidu and iQiyi have entered the "confirmed delisting list".
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Produced by | Chief Financial Officer (ID: cfoworld)
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The Fortune Transmission Society
According to the latest disclosure of the US Securities and Exchange Commission (SEC) website, companies such as Zhihu and Ideal Automobile have joined the "pre-delisting list".
The specific list disclosed on the SEC website shows: Zhihu, Novartis Furniture, LOVARRA, Wanchun Pharmaceutical, Luckin Coffee, Aurora Mobile, Scientific Energy, China Food, Value Exchange International, Zelcie Medical Group, Entrepreneur Universe Bright Group, Zhongbi Energy, China Network Carrier, AMTD International, Best Group, Both the ideal car and the shell are included.
According to the U.S. Securities and Exchange Commission (SEC), five Chinese-listed companies, Futu Holdings, Nocera, iQiyi, Baidu and Kaixin Yuanda Pharmaceutical, have moved from the "pre-delisting list" to the "confirmed delisting list". These companies are the third batch of Chinese stocks to be included in the list.
According to the SEC, the deadline for the 17 companies to submit their defenses is May 12, local time.
It is worth mentioning that Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said at the Boao Forum on the evening of April 21 that the recent serious decline in Chinese stocks is an important reason for the Sino-US audit and regulatory cooperation negotiations.
Fang Xinghai revealed that since the new chairman of the US Securities and Futures Commission last year, the negotiation team of the CHINA Securities Regulatory Commission and the US side have progressed smoothly, and it is believed that a cooperation agreement will be reached in the near future.
Previously, four batches of 23 companies totaling 23 companies had been included in the so-called "pre-delisting list". If the company cannot prove that it does not have the conditions to be delisted, it will be included in the "confirmed delisting list". In response, multiple companies responded urgently.
In this regard, Shell said that the company has been actively seeking possible solutions to protect the interests of shareholders to the greatest extent. The Company will continue to ensure compliance with relevant U.S. and Chinese laws and regulations and, where possible, maintain its status as a public company on the New York Stock Exchange.
Futu Holdings issued a statement saying that it has been paying attention to the relevant requirements of the Foreign Company Accountability Act (HFCAA) in the United States and assessing its potential impact on the company, and actively exploring ways to maintain the company's listing status, and entering the provisional list does not mean that the company's American depositary shares will be forcibly delisted and delisted in the near future.
iQIYI responded that this is a routine procedure for US regulators to implement the foreign company accountability law and related implementation rules that have been previously promulgated, and we have been paying continuous attention to this. Entry into the provisional list does not imply that the Company's Depositary Shares will be forcibly delisted and delisted in the near future. We will actively seek solutions to protect the interests of our shareholders.
Baidu announced that it has been actively seeking possible solutions and, if conditions permit, to maintain listings on the NASDAQ market and The Stock Exchange of Hong Kong Limited.
Sohu said it confirmed that the U.S. Securities and Exchange Commission (SEC) included companies in the list of recognitions based on the Foreign Companies Accountability Act and did not intend to challenge the SEC's provisional determination. Options for potential ADS delisting are being explored. Investors cannot be assured that delisting or alternatives, if any, will not adversely affect ads market value. Other courses of action are being explored, but possible actions by the company have not yet been identified.
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