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Jilin Jien to delist in July due to 4 consecutive years of losses

Jilin Jien Nickel Industry Co. Ltd. said May 23 that it received a notice from the Shanghai Stock Exchange that its shares will be delisted as the company has booked consecutive earnings deficits in its annual earnings reports from 2014 to 2017.

The company expected its last trading date to be July 11, according to a separate statement issued on the same date. The company booked a net loss of 2.36 billion Chinese yuan in 2017.

The company previously warne of the possibility of delisting in January, as its earnings continued to be hurt by high finance costs from overdue debts.

As of May 22, US$1 was equivalent to 6.37 Chinese yuan.