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PT Zhengzhou Baiwen Given a One-Year Grace Period
It's disclosed by an official with the Shanghai Stock Exchange (SSE) that it has decided to grant PT Zhengzhou Baiwen Stock Co. Ltd. (hereinafter referred to as Baiwen) a 12-month grace period.
The official indicated that SSE on May 9 received and handled Baiwen's application for a grace period and made the above decision in accordance with relevant rules and regulations. The grace period will be counted from the date on which the company has been suspended listing, that is, March 27, 2001.
The official reiterated that the company and all its board directors should continue to perform relevant obligations and release information in accordance with the regulation and requirement of China Securities Regulatory Commission and SSE.
SSE has especially declared that to grant Baiwen a grace period does not mean SSE has guaranteed the company's capability of turning loss into gain in 2001. During the grace period, if the company fails to make profit in 2001, it will be delisted in accordance with relevant regulations. SSE has warned investors of investment risks.
By PD Online staff member Deng Gang
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