SEC Adds 11 More China Concepts Stocks to “Pre-Delisting List”
According to the official website of the United States Securities and Exchange Commission (SEC), 11 more Chinese firms were added to its “pre-delisting list” on May 9. So far, the total number of China Concepts Stock firms on the list is 139.
The new 11 firms include health management platform So-Young International, ceramic tile manufacturer Antelope Enterprise, enterprise digital operations and marketing cloud platform iClick Interactive, personal financial services company Lufax Holdings, music group Kuke Music, cross-border e-commerce company LightInTheBox Holding, fresh e-commerce brand Dingdong Maicai, cloud computing enterprise Kingsoft Cloud, online car-hailing platform DiDi, information aggregation platform Qutoutiao, and online English tutoring platform 51Talk.
These companies will now need to provide evidence before May 31 that they do not exhibit conditions necessitating a delisting from US exchanges. Otherwise, they will be included on the “determined delisting list.”
Since March this year, the SEC has placed a number of China Concepts Stock firms in the pre-delisting list. At present, due to exceeding the final appeal time, 23 firms have entered the “determined delisting list,” including Baidu, Weibo, iQiyi, Futu, BeiGene and so on.
China’s securities regulatory authorities had previously communicated with the US authorities, saying that the inclusion of Chinese enterprises in the list is a step for the US to implement domestic laws. Whether these enterprises are delisted depends on the progress and results of Sino-US audit regulatory cooperation.