CRI听力:Erzhong Voluntarily Delists from China's Stock Market
China Erzhong Group Heavy Industries has become the first Chinese company delisted from the A-share market this year.
The company has taken itself off the market following 3-straight years of losses.
Erzhong says it’s working to get its finances in-order, and says it intends to relist in the future.
The company is the first to use new regulations introduced in November, which allow a company to delist voluntarily, provided they meet certain criteria.
Zhou Huan with fund management firm ChinaAMC says Erzhong is likely to be the first of many Chinese companies to choose this option.
"It's quite normal that a sound capital market sees companies listed and delisted. Reverse merger companies and firms with poor financial performance are likely to be delisted. On the other hand, investors' awareness of and the proper handling of the process should allow for the market to grow more healthy."
Erzhong shares had been under a trading suspension since April.
The firm first listed on the Shanghai Stock Exchange in 2010.
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