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HIGHWAY HOLDINGS LIMITED

(HIHO)
  Report
Delayed Nasdaq  -  04:00 2022-09-27 pm EDT
2.390 USD    0.00%
09/08Highway Holdings Limited Announces Director Resignations
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08/11Highway Holdings Limited Declares Cash Dividend
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08/11Highway Holdings Limited Declares Cash Dividend, Payable on October 7, 2022
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Alibaba added to SEC's delisting watchlist, shares fall

07/29/2022 | 01:32pm EDT

July 29 (Reuters) - Alibaba Group Holding Ltd on Friday became the latest company to be added to the U.S. Securities and Exchange Commission's list of Chinese companies that might be delisted.

Alibaba's shares were down 11% at $89.37 at the closing bell, ending the month 21.4% lower. The e-commerce giant's shares were already feeling the pressure after reports suggested Ma was planning to cede control of financial technology firm Ant, an affiliate of Alibaba.

Alibaba is among more than 270 Chinese companies listed in New York identified as being at risk of delisting under the Holding Foreign Companies Accountable Act (HFCAA), intended to address a long-running dispute over the auditing compliance of U.S.-listed Chinese firms.

U.S. regulators have been demanding complete access to audit working papers of New York-listed Chinese companies, which are stored in China.

While Washington and Beijing are in talks over the dispute, KFC operator Yum China Holdings, biotech firm BeiGene Ltd, Weibo Corp and JD.Com are among firms that could face delisting.

Alibaba's IPO in 2014 was the largest debut in history at that time and paved the way for other Chinese companies seeking fresh capital to list on the U.S. stock exchange.

Founded in 1999 in Jack Ma's apartment and catering to a large population in China, the e-commerce company has seen the wrath of both U.S. and Chinese regulators amid a broad crackdown, battering its shares since 2020.

It now plans to add a primary listing in Hong Kong, targeting investors in mainland China.

"Applying for the primary listing status in Hong Kong doesn't necessarily mean they think they're going to get delisted in the U.S... it's just to mitigate that potential risk," said Bo Pei, an analyst with U.S. Tiger Securities.

Others added to the list on Friday include Mogu Inc , Boqii Holding Limited, Cheetah Mobile Inc and Highway Holdings Limited.

(Reporting by Nivedita Balu in Bengaluru; Editing by Krishna Chandra Eluri)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED -1.32% 77.87 Delayed Quote.-34.45%
BOQII HOLDING LIMITED -5.00% 1.14 Delayed Quote.-78.45%
CHEETAH MOBILE INC. 4.82% 2.39 Delayed Quote.-65.11%
HIGHWAY HOLDINGS LIMITED 0.00% 2.39 Delayed Quote.-41.71%
MOGU INC. 4.62% 2.4899 Delayed Quote.-45.40%
WEIBO CORPORATION -3.74% 16.22 Delayed Quote.-47.64%
YUM CHINA HOLDINGS, INC. 3.74% 48 Delayed Quote.-3.69%
All news about HIGHWAY HOLDINGS LIMITED
09/08Highway Holdings Limited Announces Director Resignations
CI
08/11Highway Holdings Limited Declares Cash Dividend
BU
08/11Highway Holdings Limited Declares Cash Dividend, Payable on October 7, 2022
CI
07/29Highway : REPORTS FISCAL 2023 FIRST QUARTER RESULTS - Form 6-K
PU
07/29Alibaba added to SEC's delisting watchlist, shares fall
RE
07/25Highway Holdings Reports Fiscal 2023 First Quarter Results
BU
07/25Earnings Flash (HIHO) HIGHWAY HOLDINGS LIMITED Reports Q1 Revenue $2.9M
MT
07/25Highway Holdings Limited Reports Earnings Results for the First Quarter Ended June 30, ..
CI
07/01Highway : REPORTS FISCAL 2022 FOURTH QUARTER AND YEAR-END RESULTS - Form 6-K
PU
06/30Highway : Annual Report by Foreign Issuer (Form 20-F)
PU
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Financials (USD)
Sales 2022 12,4 M - -
Net income 2022 0,44 M - -
Net cash 2022 6,18 M - -
P/E ratio 2022 25,7x
Yield 2022 6,03%
Capitalization 9,65 M 9,65 M -
EV / Sales 2021 0,98x
EV / Sales 2022 0,42x
Nbr of Employees 401
Free-Float 60,7%
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Managers and Directors
Roland Walter Kohl Chairman, President & Chief Executive Officer
Alan Chan Chief Financial Officer & Secretary
Ringo Tsang Chief Operating Officer
Tiko Aharonov Lead Independent Director
Kuang Yu Yang Independent Non-Executive Director
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