Lingyun Industries Development Faces Delisting

MT Newswires

Shanghai Lingyun Industries Development is facing the risk of being delisted from the Shanghai Stock Exchange due to the devaluation of its shares, according to a bourse filing on Tuesday.

As of Monday, the Chinese photovoltaic power company's shares' daily closing price was less than the minimum requirement of 1 yuan per share for 20 consecutive trading days.

The bourse will decide on whether the company will be delisted, the filing said.

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Chinese Shares Cut Three-Day Gains to End Week in Red; Mubang High-tech Slumps 5%

MT Newswires

Chinese shares made losses on Friday, cutting a three-day winning streak, as sentiment wavered over the upcoming talks with the US and a drop in China's trade balance in April.

The Shanghai Composite Index slid 0.3%, or 10.00 points, to cap the trading week at 3,342.00. The Shenzhen Component Index fell 0.7%, or 70.83 points, to 10,126.83.

Optimism over the talks between China and the US waned despite US President Donald Trump signaling that some tariffs on Chinese goods may be reduced ahead of the meeting in Switzerland.

US Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer are set to meet with Chinese Vice Premier He Lifeng in the weekend for talks that may mitigate the escalating trade war between the countries.

Compounding the market blow is China's trade surplus in April, which dropped to $96.2 billion from $102.6 billion in March despite strong export growth.

In corporate news, Mubang High-tech dropped 5% after the toy distributor was ordered by a court to pay Wuxi Lead Intelligent Equipment 42.5 million yuan to settle a sales contract dispute.

Shanghai Lingyun Industries Development slumped 5.3% despite its electricity revenue between January and April jumping 27% year on year to 38.9 million yuan.

Gemdale fell 3.5% as its contracted sales and contracted sales area in April both dropped 55% year on year.

Risk Warnings and Disclaimers

Add to Favorites

Chinese Shares Cut Three-Day Gains to End Week in Red; Mubang High-tech Slumps 5%

MT Newswires

Chinese shares made losses on Friday, cutting a three-day winning streak, as sentiment wavered over the upcoming talks with the US and a drop in China's trade balance in April.

The Shanghai Composite Index slid 0.3%, or 10.00 points, to cap the trading week at 3,342.00. The Shenzhen Component Index fell 0.7%, or 70.83 points, to 10,126.83.

Optimism over the talks between China and the US waned despite US President Donald Trump signaling that some tariffs on Chinese goods may be reduced ahead of the meeting in Switzerland.

Compounding the market blow is China's trade surplus in April, which dropped to $96.2 billion from $102.6 billion in March despite strong export growth.

In corporate news, Mubang High-tech dropped 5% after the toy distributor was ordered by a court to pay Wuxi Lead Intelligent Equipment 42.5 million yuan to settle a sales contract dispute.

Shanghai Lingyun Industries Development slumped 5.3% despite its electricity revenue between January and April jumping 27% year on year to 38.9 million yuan.

Gemdale fell 3.5% as its contracted sales and contracted sales area in April both dropped 55% year on year.

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Lingyun Industries' Electricity Revenue Rises 27% in January-April; Shares Fall 5%

MT Newswires

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Shanghai Lingyun Industries Development's electricity revenue from January to April jumped 27% year on year to 38.9 million yuan, according to a Shanghai Stock Exchange disclosure on Friday.

The Chinese photovoltaic power company's on-grid electricity output likewise rose 27% year on year to 47.7 million kilowatt hours.

The company's shares slumped over 5% in recent trade.

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Lingyun Industries Development Faces Delisting

Chinese Shares Cut Three-Day Gains to End Week in Red; Mubang High-tech Slumps 5%

Chinese Shares Cut Three-Day Gains to End Week in Red; Mubang High-tech Slumps 5%

Lingyun Industries' Electricity Revenue Rises 27% in January-April; Shares Fall 5%

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