Beijing Zuojiang Technology

Once high-flying Chinese chip firm to delist from Shenzhen after financial fraud inquiry

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Once high-flying Chinese chip firm to delist from Shenzhen after financial fraud inquiry

In a regulatory filing on Friday, Zuojiang Technology said that its shares will cease trading in the Shenzhen bourse on July 26. This comes after the company was not able to present a clean audit report for its 2023 financial results, which prompted the Shenzhen Stock Exchange to move for its delisting. The delisting notice … Read more

China’s securities regulator raises suspicion of financial fraud committed by chip developer Beijing Zuojiang Technology

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China’s securities regulator raises suspicion of financial fraud committed by chip developer Beijing Zuojiang Technology

The China Securities Regulatory Commission (CSRC) said it found the 2023 financial disclosures of Shenzhen-listed Zuojiang to be “seriously untrue” and “suspected [the company] of significant financial fraud”, according to the agency’s statement on Monday about the results of its preliminary investigation. The CSRC said its investigation, which was initiated on November 24, was still … Read more