The regulator has been expanding its list of foreign companies facing delisting risk from US exchanges
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The US Securities and Exchange Commission (SEC) added 11 firms on Monday to a list of entities facing possible expulsion from American exchanges amid an auditing standoff between the US and China.
Affected firms included ride-hailing giant Didi, online grocery delivery platform Dingdong Maicai (Chinese: 叮咚买菜), marketing technology platform iClick (Chinese: 爱点击), cross-border e-commerce site LightInTheBox (Chinese: 兰亭集势), cosmetic surgery app SoYoung (Chinese: 新氧), fintech platform Lufax (陆金所), cloud service provider KingSoft Cloud (Chinese: 金山云), news aggregator Qutoutiao (Chinese: 趣头条), China Online Education Group and ceramic tile manufacturer Antelope Enterprise.
The regulator has been expanding its list of foreign companies facing delisting risk from US exchanges. Washington has demanded complete access to the books of U.S-listed Chinese companies, but Beijing has previously banned foreign inspection. China said in April it prepared to give US regulators full access to auditing reports of the majority of the 200-plus companies listed in New York as soon as mid-this-year.
More than half of the roughly 240 US-listed Chinese companies have been added to the delisting list.
Article by Yijuan Li, EqualOcean.
