The Shenzhen Stock Exchange made its first delistings under tighter rules for underperforming firms.
China’s Shenzhen Stock Exchange will delist two loss-making companies, the first delistings under tighter rules for underperforming firms aimed at boosting confidence in the sluggish equities market.
Software producer Powerise Information Technology and real estate firm Jiangsu Chinese Online Logistics will be delisted next week in accordance with the new rules announced in June, the exchange said in a statement late on Monday.
Trading in Powerise has been suspended since May 2007 after the firm made three consecutive losses. Jiangsu Chinese Online has been suspended since May 2006 for the same reason.
According to the new rules, companies which post three consecutive years of losses will be delisted unless they pass a review of their restructuring plans.
The Shenzhen exchange said it had rejected the restructuring plans from Powerise and Jiangsu Chinese Online.
China has in recent years tightened performance standards for listed companies as part of sweeping reforms intended to improve the health of its stock markets.
This site contains materials from other clearly stated media sources for the purpose of discussion stimulation and content enrichment among our members only.
whatsonshenzhen.com does not necessarily endorse their views or the accuracy of their content.
For copyright infringement issues please contact firstname.lastname@example.org
In particular, the company’s Pilot watches, the product family the brand introduced in 2012, bear his design stamp. But while the first models retain the black dial and white numerals typical of historical pilot’s cheap breitling timepieces, new models have seen Ellinger experiment with materials and colors outside this orthodoxy. "In fact, we never wanted to be limited to strictly aerospace," he explains. "Pilot for us is also the pilot of a motorcycle or a car. These are pilots as well, and we had this in mind already when we started. These breitling replica watches have always been playful." The brand’s original Montre d’Aeronef Type 20 was already a head-turning watch at 57.5 mm and became an immediate success with collectors. The brand followed it up with nonaerospace modifications such as a sapphire model as well as smaller versions that mixed a rose-gold bezel and lugs with a titanium middle case section. "It looked like a pilot’s omega replica watch, but crossed over into fashion or jewelry," claims Ellinger. "It got far away from the purely serious, sometimes boring side of being a pilot’s watch."