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Special treatment shares surge

By Qiu Chen (Global Times)

08:42, January 22, 2013

Most of China's stocks under special treatment (ST) rallied Monday on hopes that several of them will soon have their risk warnings removed either through the approval of their asset restructuring plans or the release of improved earnings results from the previous year.

About 30 ST stocks - including Harbin Electric Corporation Jiamusi Electric Machine Co (Jiamusi) and Taifu Industry Co (Taifu) - shot to the 5-percent daily limit. Another 25 stocks increase more than 2 percent during trading Monday.

The prices of these ST stocks were primarily lifted as investors took note of developments which could lead to the end of several warning marks, Li Bo, an analyst from GF Securities, told the Global Times.

An ST stock is eligible to have its warning mark removed if it undergoes asset restructuring with a target company that has operated for at least three years and realized a profit during the pervious financial year, or if it turns around from losses while seeing its yearly turnover reach 10 million yuan ($1.61 million) and its net assets are in the black, according to regulations released from stock exchanges in Shenzhen and Shanghai last year.

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