US82935M1099 - ADR
News that multiple Chinese companies are delisting from U.S. exchanges has sent the share prices of China concerns sharply lower.
The major indexes continued to advance, despite some key warnings.
NEW YORK, NY / ACCESSWIRE / August 12, 2022 / Sinopec Shanghai Petrochemical Company Limited (the "Company") (NYSE:SHI) (HKEX:00338) (SSE:600688) announced today that the Company notified the New York Stock Exchange (the "NYSE") on 12 August 2022 (eastern time of the United States) that it intends to voluntarily delist its American depositary shares (the "ADSs") representing Class H ordinary shares of the Company (the "H Shares") from the NYSE (the "Delisting") and, when the legal conditions are met, terminate its registration of such ADSs and the reporting obligations under the United States Securities Exchange Act of 1934, as amended (the "Exchange Act").The decision of the Delisting is based upon a number of considerations including, the small number of underlying H shares represented by the ADSs issued by the Company relative to the total number of the Company's H Shares, the limited trading volume of the ADSs relative to the worldwide trading volume of the Company's H Shares and the considerable administrative burden and cost of maintaining the listing of the ADSs on the NYSE, the registration of the ADSs and the underlying H Shares with the U.S. Securities and Exchange Commission (the "SEC") and complying with the periodic reporting and other relevant obligations under the Exchange Act. The board of directors of the Company approved the Delisting and the deregistration of such ADSs and the underlying Class H Shares under the Exchange Act upon certain legal conditions being met.
Five of China’s largest state-owned companies announced plans to delist from US exchanges as the two countries struggle to come to an agreement allowing American regulators to inspect audits of Chinese businesses.
The SEC has released a massive list of Chinese stocks that could face delisting on Holding Foreign Companies Accountable Act news.
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These dividend stocks have yields at least 4.5% or greater and can cover the dividend payments out of earnings by 2 times or more.
With geopolitical tensions rising, the world’s second-biggest economy may be at a crossroads, forcing a closer look at Chinese stocks.
While broaching the subject of stocks to sell is always controversial, you’ll find less friction with these questionable investments.
NEW YORK, NY / ACCESSWIRE / April 28, 2021 / Sinopec Shanghai Petrochemical Company Limited (the "Company") (HKEx:338)(SSE:600688)(NYSE:SHI) announced today that its Form 20-F for the fiscal year ended December 31, 2020, filed with the United States Securities and Exchange Commission on April 29, 2020, has been posted to the Company's website at http://www.spc-ir.com.hk/eng/report.asp. The soft copy of the Company's annual
HONG KONG / ACCESSWIRE / March 24, 2021 / Sinopec Shanghai Petrochemical Company Limited ("Shanghai Petrochemical" or the "Company", together with its subsidiaries known as the "Group") (HKEX:00338)(SSE:600688)(NYSE:SHI) today announced the annual results for the twelve months ended 31 December 2020 (the "Period"). Given the global COVID-19 pandemic spread, a short-term historical plunge in