File photo of the logo of China's Zhuhai Boyuan Investment Company. 

The Zhuhai Boyuan Investment Company has been delisted from the Shanghai Stock Exchange after an investigation found it violated information disclosure rules.

The company finished its last day of trading on Wednesday at the Shanghai bourse at 4.49 yuan, up nearly 2.8 from Tuesday.

It is the first firm to be delisted on the Chinese mainland for "major violations" as China's stock regulator improves delisting procedures to protect investors.

Zhou Huan, strategy analyst of China Asset Management Company, says after the "Boyuan Investment" is delisted from the market, it will be listed for transfer in the middle and small business share transfer system in 45 trading days.

"After it is downgraded to the New Third Board, Boyuan Investment's volume of business and appraisal value will be affected compared to its time on the main market board. The Overall volume of business for the New Third Board is around 200 to 300 million yuan or about 31 to 46 million U.S. dollars per day. As to the appraisal value, the current appraisal standard would be around over 20 times of its net value or less than 30 times."

China's securities regulator has found that Boyuan Investment have repeatedly forged bank acceptance bills and other major transactions, and its financial statements included fraudulent information on assets, income, profit and other items.

Trading of Boyuan shares was suspended on May 14 last year after the company was flagged by regulator for delisting risk.

When it resumed trading in March this year, its shares tumbled by the daily trading limit for four straight days.