150 Stocks Suspended Trading on Hong Kong Stock Exchange for Missing Filing Deadline
1st April 2021 | Hong Kong
More than 150 stocks or almost 6% of companies listed on Hong Kong Stock Exchange (Hong Kong Exchanges and Clearing ~ HKEX) have applied and suspended trading on the 1st of April 2021 for failing to disclosure their preliminary unaudited results by the March 31st deadline. Some of the companies cited difficulties caused by the Covid-19 pandemic, and with the failure to provide the results by the March 31st deadline, the shares had to be suspended from trading under Hong Kong’s listing rules.
Hong Kong Exchanges and Clearing (HKEX) is referred as Hong Kong Exchange or HKEX in this article
” 150 companies or almost 6% of companies listed on Hong Kong suspended trading “
Many of the listed companies on Hong Kong Exchange are small-cap with a few larger companies including China Huarong Asset Management, Hainan Meilan International Airport and GCL-Poly Energy Holdings (solar-panel maker).
With the Easter holiday, the Hong Kong stock market will close for 3 trading days from 2nd April to 6th April 2021.
Hong Kong Exchange, 4th Largest with $6.8 Trillion Market Value
Hong Kong Exchange is the 4th largest stock exchange in the world with a total of 2,553 listed companies and total market value of around $6.82 trillion (31/3/21). 2,187 companies are listed on the mainboard and 366 are listed on GEM (small to mid-sized companies).
2021 Largest Stock Exchange in the World:
- NYSE
- Nasdaq
- Shanghai Stock Exchange
- Hong Kong Stock Exchange
- Japan Stock Exchange
As of 31st March 2021, 71 companies have been suspended for 3 months or more on Hong Kong Exchange. Since 1st January 2021, 39 companies have been newly listed while 17 companies have been delisted.
HK Mainboard
- Marketing Capitalization (Equal or More than HKD 500 million)
- 3 Year Total Profit Equal or More than HKD 50 million
HK GEM (small to mid-sized companies)
- Marketing Capitalization (Equal or More than HKD 150 million)
- 2 Year Total Operating Cashflow (OCF) Equal or More than HKD 30 million)
Related:
- Hong Kong Exchange Appoints JP Morgan International Private Bank CEO Nicolas Aguzin as New CEO
- Baidu IPO on Hong Kong Exchange, Price Remains Unchanged on Day 1
- Ant Group $300 Billion Record IPO Suspended in both Shanghai and Hong Kong Exchange
- Hong Kong SFC Police Arrested 12 People Suspected of Ramp & Dump Manipulation Schemes
- Hong Kong SFC Issues Restriction Notices to 13 Brokers for 54 Accounts Related to Social Media Scam
- Hong Kong & Singapore Regulators Warn Investors of Increased Trading Risks Triggered by Social Media & Online Forums
- 7 Hong Kong Bankers Arrested in $810 Million Money Laundering Case
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