PT Zhonghao: 3rd Company to Be Delisted by Shenzhen Stock ExchangeThe Shenzhen Stock Exchange announced October 22 that it would no longer grant a grace period to PT Zhonghao, this means that the company will withdraw from the stock market following PT Narcissus and PT Guangdong Kingman.On June 19, PT Zhonghao acquired a six-month grace since it made public its annual report, but its October 17 application for another grace period was turned down. Although Zhonghao's mid-year report showed the company had realized a net profit of 1.115 million yuan, an auditing report by accountants office refused to make any comments. The auditing report was thought to be cautious by the China Securities Regulatory Commission on the basis of the verification it conducted. Actually, the company had suffered losses in the mid-year of 2001. According to relevant regulations on suspension and delisting of losing companies on the stock market, the Shenzhen Stock Exchange decided to cease granting a grace period to PT Zhonghao. By PD Online staff member Li Heng |
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