Luoyang Glass Co Ltd said the Shanghai Stock Exchange would remove the company“s “special treatment” (ST) status on 28 June 2005 as it recorded a net profit of CNY 46.1 million in 2004 against a net …
Luoyang Glass Co Ltd said the Shanghai Stock Exchange would remove the company“s “special treatment” (ST) status on 28 June 2005 as it recorded a net profit of CNY 46.1 million in 2004 against a net loss of CNY 342.51 million a year earlier. Trading in the company“s shares was suspended on 27 June 2005. Most ST companies have had two consecutive years of losses. Companies can also be downgraded to ST status because of financial or operating irregularities or if their net assets-per-share value drops below the par value for their shares. Firms can come off the ST list if they address the problems in a timely manner. Daily share price rises or falls of ST firms are limited to 5%.