The Hong Kong Exchanges & Clearing Ltd. (HKEX) brand is displayed on a display on the Trade Sq. advanced in Hong Kong, China, on Aug. 19, 2020.
Roy Liu | Bloomberg | Getty Photographs
Shares of round 50 Hong Kong-listed corporations have been suspended from buying and selling on Thursday, in keeping with inventory change filings, with many corporations citing delays in publishing their annual outcomes as the explanation for the transfer.
Many of the corporations concerned are small-cap names, nevertheless, additionally they included some bigger corporations together with embattled dangerous debt supervisor China Huarong Asset Administration and photo voltaic vitality agency GCL-Poly Power.
Most of the filings stated the businesses had not printed their 2020 full-year outcomes by the top of March, some citing difficulties brought on by the Covid-19 pandemic. Therefore, shares of those corporations needed to be suspended from buying and selling beneath Hong Kong’s itemizing guidelines.
Final yr, 384 Hong Kong corporations didn’t publish annual outcomes by March 31, however have been capable of proceed buying and selling after publishing unaudited accounts or different monetary info after the inventory change and markets regulator relaxed the principles because of the pandemic.
Such preparations weren’t permitted this yr.
The monetary reporting yr of most of the roughly 2,500 Hong Kong-listed corporations is identical because the calendar yr.