Posted on 18/08/05
China's largest bicycle exporter warns it could face bankruptcy
SHANGHAI -- China's biggest bicycle exporter, Shenzhen China Bicycle Co., has warned its shareholders it may be delisted because it is facing bankruptcy proceedings.If a bankruptcy application by its controlling shareholder, Huarong Asset Management Corp., is approved by the Shenzhen Intermediate People's Court, the company's shares will be delisted from the Shenzhen Stock Exchange, China Bicycle said in a statement posted on the exchange's website.
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