April 21, U.S. local time, the U.S. Securities and Exchange Commission (SEC) will be ideal car, Best Group and shell and 17 other companies have been added to the? Pre-delisting list?
The SEC added 17 more companies, including Ideal Motors, Best Group and Shell, to its pre-delisting list, as well as Zhihu and Ruixing Coffee.
SEC website disclosure on the U.S. "pre-delisting list" in the 17 companies are:
1. Zhihu, 2. Novartis Furniture, 3. LOVARRA, 4 Wanchun Pharmaceuticals, 5. Ruixing Coffee, 6. Aurora Mobile, 7. International, 10.Zerxis Medical Group, 11.Entrepreneur Universe Bright Group, 12.Sino-Bi Energy, 13.China Net Carrier Line, 14.Sangsang International, 15 Best Group, 16.Ideal Motors, 17.Shell
This is the fifth batch of Chinese since March to be included on the list of companies on the list. Previously, four batches totaling 23 companies had been added to the so-called ? pre-delisting list? It is worth noting that if a company cannot prove that it does not have the conditions to be delisted, it will be placed on the ? definitive delisting list?
Friday's disk trend is affected by this wave of operation, the three major stock indexes collectively killed. As of the close, the Dow Jones index fell 1.05%, the Nasdaq index fell 2.07%, the S&P 500 index fell 1.48%, which, Chinese stocks fell heavily.
More than 200 Chinese companies are known to be listed in the U.S., with about 20 of them also having listing status in Hong Kong, and it is feared that this group is expected to continue to grow. The SEC claims that the deadline for these 17 companies to submit their pleadings is May 12 local time. Accordingly, a number of companies have responded.Ideal Motors responded that ? All U.S.-listed Chinese stocks will be included in this list after they release their annual reports. Being included is not the same as being delisted from the U.S. According to the relevant regulations companies will only be restricted from trading in U.S. stocks if they fail to open up their audited drafts to the U.S. for three consecutive years.? also said they have been actively looking for a solution and will protect the interests of shareholders to the greatest extent possible ,? On the one hand, it has already completed its primary listing in Hong Kong last year, and the shares of the two places are interchangeable, and U.S. stock investors can convert them to hold them in Hong Kong at any time, and the listing status of the primary listing in Hong Kong will not be affected by the U.S. stock-related regulation (unlike the secondary listing in Hong Kong).
Shell said the company has been actively seeking possible solutions to maximize the protection of shareholders' interests. The company will continue to ensure that it complies with relevant US and Chinese laws and regulations, and maintains its listing status on the New York Stock Exchange as conditions permit.
Also, some Zhihu related staff said: the company has completed its dual primary listing in Hong Kong, and will follow the progress closely, and the incident has limited impact on Zhihu.
According to the legal documents on the SEC's official website, being listed on the ? determined to be delisted? companies are required to file documents required by the SEC within three years. If? the companies on the "firm delisting list" do not file or submit the required documents within three years, the SEC said.