The Hong Kong Exchanges & Clearing Ltd. (HKEX) brand is displayed on a display screen on the Exchange Square advanced in Hong Kong, China, on Aug. 19, 2020.
Roy Liu | Bloomberg | Getty Images
Shares of round 50 Hong Kong-listed companies had been suspended from trading on Thursday, in accordance with inventory trade filings, with many corporations citing delays in publishing their annual outcomes as the explanation for the transfer.
Most of the companies concerned are small-cap names, nevertheless, in addition they included some bigger corporations together with embattled unhealthy debt supervisor China Huarong Asset Management and photo voltaic power agency GCL-Poly Energy.
Many of the filings mentioned the companies had not printed their 2020 full-year outcomes by the tip of March, some citing difficulties brought on by the Covid-19 pandemic. Hence, shares of these companies needed to be suspended from trading beneath Hong Kong’s itemizing guidelines.
Last 12 months, 384 Hong Kong companies didn’t publish annual outcomes by March 31, however had been in a position to proceed trading after publishing unaudited accounts or different monetary data after the inventory trade and markets regulator relaxed the principles because of the pandemic.
Such preparations weren’t permitted this 12 months.
The monetary reporting 12 months of many of the roughly 2,500 Hong Kong-listed companies is identical because the calendar 12 months.
