Akcome halts some manufacturing, faces possible Chinese stock delisting
- Admin
- Jun 17, 2024
- 1 min read
Chinese solar manufacturer Akcome Technology faces delisting from the Shenzhen Stock Exchange due to shares falling below CNY 1 for 20 consecutive trading days. The China Securities Regulatory Commission (CSRC) is investigating the company and its controlling shareholder, Zou Chenghui, for alleged information disclosure violations. Akcome Technology has a history of misleading disclosures and financial losses. The company's actual controller has been cashing out by selling shares despite the losses. Over 270,000 investors will be directly impacted by the delisting, with potential class-action lawsuits being considered.
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