Phoenix.com Science and Technology News On July 30th, Beijing time, Alibaba Group was included in the "pre -delivery" list by the US Securities and Exchange Commission (SEC) on Friday, facing the risk of delisting from the United States.
A few days ago, Ali released the annual report of fiscal 2022, when the outside world was expected to be included in the "pre -delivery" list by the company. In addition to Ali, Mushroom Street and Cheetah Mobile were also included in the list on Friday. According to the "Foreign Company Accountability Law" adopted by the United States in 2020, if foreign companies listed in the United States cannot allow US regulatory agencies to check the audit draft for three consecutive years, they may be forced to delist.
Alibaba is included in the "pre -delivery" list
Among the Chinese companies listed in the "pre -delivery" list, Ali is the largest. Ali has argued that since it was listed in New York in 2014, its accounts have been audited by global recognized accounting firms and should meet regulatory standards.
At the same time, Ali is also hedging risk. Earlier this week, Ali announced that he had applied for the market to change its listing status from the second listing to its main listing in Hong Kong. It is expected that it will take effect by the end of 2022. After the relevant main listing process is completed, Ali will realize the dual listing of the New York Stock Exchange and the Hong Kong Stock Exchange.
Ali said that the major listing status will help expand its investor foundation and bring new liquidity, especially to reach more investors in China and other parts of Asia. Another advantage of the main listing in Hong Kong is that Ali can be included in the Hong Kong Stock Connect. In this way, mainland investors can buy and sell its stocks. (Author/Xiao Yu)
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