Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Live is Caixin Global's real-time news portal, featuring 24-hour breaking news, short-form analysis, and roundups from business and social media in China.

TRENDING
Chinese DNA Sequencing Firm BGI Faces Legal Battle with Illumina
Chinese Chipmaker SMIC to Delist From NYSE, Focus on Hong Kong
Just Add Water, Physics-Defying Car Company Claims
LATEST
China Doesn’t Engage in ‘State Monopoly Capitalism’: Banking Chief
Huawei Seeks $1 Billion in First Big Funding Test After U.S. Ban
Chinese Chipmaker SMIC to Delist From NYSE, Focus on Hong Kong
Just Add Water, Physics-Defying Car Company Claims
Hong Kong Banking Tycoon Passes Baton to Two Sons
Fears Grow as Fall Armyworm Continues Invasion of Chinese Farms
Rural Policy Bank Sells Bond to Retail Investors in Hong Kong
Baidu Continues Shaking Up Its Management Board
Xiaomi Fires Vice President for ‘Obscene’ Behavior
Update: Chinese EV Startup Digs Into Real Estate
Chinese DNA Sequencing Firm BGI Faces Legal Battle with Illumina
U.S. Companies and Consumers Pay for China Tariff Costs, IMF Says
Weibo Shares Slump After Q1 Revenue Growth Slows
Anxin Trust Questioned for Plunging Profits and Accounting Errors
Meituan Sees Strong Revenue Growth, Despite Drag From Mobike
DHL, Panasonic Deny Severing Huawei Ties
China Renewables Industry Comes of Age With Ambitious Subsidy-Free Projects
China Readies 600 Kph Maglev Prototype
Mercedes-Benz Makes it Easier to Trade in Defective New Cars in Wake of PR Nightmare
Shanghai Man Sentenced to Death for Child Murder
High-Tech Board Demands Straight Answers From Problematic Applicants

By Zhao Runhua and Zhang Yu / May 15, 2019 05:54 PM / Finance

Photo: IC Photo

Photo: IC Photo

Some of the companies applying to list on China’s new high-tech board have been evading questions and fudging numbers, the Shanghai Stock Exchange said.

The exchange sent letters to 86 candidates regarding concerns including issues with their prospectuses and business models, it said Tuesday. At least 71 companies and sponsors have responded so far — and some unsavory patterns are emerging.

Some companies “intentionally” chose not to address concerns that might unveil their weaknesses, while some exaggerated real situations, the Shanghai bourse said.

The exchange also pointed out that some sponsors changed key financial figures that had already been included in published prospectuses, and several even used modified versions of the bourse’s questions.

The exchange said it had asked the companies and sponsors to correct their misconduct, without naming the offenders. It said it will keep asking questions if a candidate fails to fully disclose information.


Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.