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The US SEC has pulled the list again, and 17 companies such as Zhihu and Luckin are listed! Fang Xinghai: The negotiations between China and the United States are progressing very smoothly

via:凤凰网     time:2022/4/22 14:07:57     readed:151

According to the surging news, on April 21, the SEC added 17 companies such as Ideal Automobile, Best Group and Shell and Zhihu to the "pre-delisting" list, which is also the fifth batch of Chinese stock companies to be included in the list since March. The SEC claims that the deadline for the 17 companies to submit their defenses is May 12, local time.

As of the close of the market on the 21st local time, Chinese stocks fell sharply again, iQiyi fell nearly 15%, Sohu fell nearly 10%, Manbang fell more than 8%, Shell, Yunmi Technology, Uxin, Jinshan Cloud fell more than 7%, Pinduoduo, Daily Excellent Fresh, Qutoutiao fell more than 6%.


Image source: Wind


17 Chinese stocks were included in the "pre-delisting" list

Shell: Actively seek possible solutions

According to the Financial Associated Press, the U.S. Securities and Exchange Commission (SEC) local time again on April 21Companies such as Ideal Motors, Best Group and Shell were added to the "pre-delisting" listThis is the fifth batch of Chinese-listed companies to be included in the list since March. The specific list is: Zhihu, Novartis Furniture, LOVARRA, Wanchun Pharmaceutical, Luckin Coffee, Aurora, Scientific Energy, China Food, Value Exchange International, Zelsy Medical Group, Entrepreneur Universe Bright Group, Zhongbi Energy, China Grid Carrier Line, AMTD International, Best Group, Ideal Auto and Shell.


The SEC claims thatThe deadline for the 17 companies to submit their defenses is May 12, local time

On April 22, Shell Holdings Limited (NYSE:BEKE) was added to the Foreign Companies Accountability Act (HFCAA) by the U.S. Securities and Exchange Commission (SEC) on April 21, 2022, EST.

The determination is an administrative measure taken by the SEC under HFCAA to indicate that the SEC has determined that the Company has used a fiscal 2021 audit report from an auditor that is currently unable to review the audit papers by the U.S. Public Corporations Accounting Oversight Board (PCAOB).

Under HFCAA rules, the SEC will prohibit the trading of company stock or American depositary receipts on U.S. stock exchanges or over-the-counter markets under HFCAA, and annual audit reports issued by auditors that have not been reviewed by the PCAOB for three consecutive years.

In response, shells looking for a room to respond,The Company has been actively seeking possible solutions to maximize the protection of the interests of shareholders。 The Company will continue to ensure compliance with relevant U.S. and Chinese laws and regulations and, where possible, maintain the Company's status as a public company on the New York Stock Exchange.

In March, the U.S. Securities and Exchange Commission (SEC) website published a list of five Chinese companies. Based on the Foreign Companies Accountability Act (HFCAA), the SEC has the power to delist a foreign public company from the exchange if it fails to file a report required by the U.S. Public Company Accounting Oversight Board for three consecutive years, SEC said. In this regard, on March 11, the China Securities Regulatory Commission responded late at night, saying that we respect the supervision of relevant accounting firms by overseas regulators in order to improve the quality of financial information of listed companies, but resolutely oppose the wrong practice of some forces to politicize securities supervision.


square Xinghai: Negotiations between China and the United StatesProgress is very much smoothly

Brokers: The return of Chinese stocks is still the trend of the times

On April 21, during the 2022 annual meeting of the Boao Forum for Asia, Fang Xinghai, vice chairman of the China Securities Regulatory Commission, expressed his latest views on hot topics of market concern such as the decline in Chinese stocks.


Image source: Per the reporter Zhang Rui photo

When talking about the recent decline in the stock price of Chinese stocks, Fang Xinghai said that there are several factors in the decline of Chinese stocks, one of which involves Sino-US audit and regulatory cooperation.

Recent negotiations between China and the United States have progressed very smoothlyBasically, I negotiated the video every other week and put the details on the ground. Fang Xinghai said, himselfConfident of reaching a cooperation agreement in the near futureIt is more evidence-based for accounting firms that can conduct listing audits of Chinese stocks, which is good news for China stocks.

He said that the CSRC's attitude is to support enterprises to list overseas and support enterprises to choose which market to list on their own, "We believe that China, as a developing country, has not developed its own capital market sufficiently.Enterprises should use the two markets at home and abroad to develop themselves, and this direction will not change。”

According to Interface News, CITIC Securities believes that the introduction of the Foreign Company Accountability Act in the United States has caused market concerns, but the short-term centralized return of China and The United States is not realistic, facing four pressures such as liquidity discount, centralized selling, market preference, and policy risks. It is expected that cross-border audit supervision or Chinese expediency measures will be carried out for enterprises without major information security risks, and enterprises with major information security risks may accelerate their return. Under this scenario, it is estimated that the average annual new fundraising demand of China's return accounts for 16% of the total hong Kong stock IPOs, and the liquidity impact is controllable.However, the return of China is still a long-term trend, and the reform of supporting systems such as Hong Kong Stock Connect and A-share listing thresholds or follow-up policy forces

Edit the |Duan Lian Du Hengfeng

Proofreading |Lu Xiangyong

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