Chinese firms in hot water for not issuing reports on time

Saturday, 11 May 2019 12:13

Five Chinese firms are being investigated for not issuing their annual reports on time.

The China Securities Regulatory Commission (CSRC) said the companies could be guilty of information disclosure violations.

Trade in their shares has been suspended while the investigations are ongoing.

The five firms are as follows: ShangHai ZhongYiDa Co Ltd, Xinjiang Yilu Wanyuan Industrial Investment Holding Co., Ltd, Zhejiang Great Southeast Co Ltd, Changsheng Bio-technology Co Ltd and Chengdu Huaze Cobalt & Nickel Material Co Ltd.

More from Business News

Novo's next-gen obesity drug candidate trial disappoints

Novo Nordisk on Friday revealed disappointing results in a late-stage trial for its experimental next-generation obesity drug CagriSema, wiping as much as $125 billion off its market value.
Amazon workers to strike at US warehouses during busy holiday season

Thousands of Amazon.com workers in the US will walk off the job on Thursday, in the crucial final days of the holiday season, after union officials said the retailer failed to come to the bargaining table to negotiate contracts.
H.H Sheikh Mohammed issues new laws to enhance Dubai’s media sector

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has introduced Law No. (29) of 2024, which grants the Dubai Media Council expanded powers to further develop and regulate the emirate’s media sector.
Honda, Nissan in talks to set up holding company

Japanese auto giants Honda and Nissan are in talks to set up a holding company, according to a person with knowledge of the matter, a move that would allow them to share more resources amid competition upending the global industry.