The U.S Securities and Exchange Commission (SEC) added 17 more U.S.-listed Chinese firms to its provisional delisting list under the Holding Foreign Companies Accountable Act on Thursday, April 21.
The Commission gave these companies 15 business days to submit evidence to prove that they are not eligible for delisting by the end of the deadline on May 12.
Technode reported that this fifth group of companies includes four big tech firms in China, including Q&A platform Zihu Inc., coffee chain Luckin Coffee, electric vehicle maker Li Auto, and online housing firm KE Holdings.
The remaining 13 companies are Nova Lifestyle, LOVARRA, BeyondSpring, Aurora Mobile, Scientific Energy, China Foods Holdings, Value Exchange International, JRSIS Health Care, Entrepreneur Universe Bright Group, CBAK Energy Technology, ZW Data Action Technologies, AMTD IDEA Group, and China’s smart supply chain solutions and logistics services provider, Best.
The SEC has renewed its watchlist of Chinese companies to face delisting five times and has moved the first three groups of 11 companies to its definite list.
The fourth group was announced just last week, including 12 enterprises with the deadline for updating documents on May 3.