Another Chinese concept stock is at risk of delisting, and the US Securities and Exchange Commission (SEC) has added Baidu (09888), Futu Holdings and iQiyi, etc., are on the list of scheduled delistings under the Foreign Company Accountability Act (HFCAA).
This is the third batch of companies to be included in the SEC’s scheduled delisting list. The five companies include Futu Holdings, Baidu, iQiyi, CASI Pharmaceuticals and Nocera.
The SEC said the company has a deadline of April 20 to submit evidence for its defense. The company must prove that it does not meet the conditions for delisting, otherwise it will be included in the “Delisted Delisting List”.
In addition, the SEC transferred the 5 Chinese concept companies in the first batch to the Conclusive list, includingBeiGene (06160), Zai Lab (09688), Chi-Med Pharmaceuticals (00013), Yum China (09987) and Shengmei Semiconductor.
Weibo (09898) is the second batch of companies to be included in the scheduled delisting list, and the SEC requires Weibo to provide evidence that it does not meet the conditions for delisting before April 13.
