The Shenzhen Stock Exchange is delisting Chinese whitefish giant Dalian Tianbao Green Foods, according to an announcement on June 18.
The company's shares will be moved to China's national market for small to medium enterprises (SME) as of June 30.
The company is expecting huge losses for the 2019 financial year due to increased litigation costs and penalties, coupled with a "negative market environment due to complex domestic and international situations" and increased trade friction.
In November 2019, the China Securities Regulatory Commission fined Chinese processor Dalian Tianbao Green Foods CNY 400,000 (€51,561/$56,814) following an investigation that was opened earlier in the year.
During the investigation, the commission found that in 2016 the company did not disclose two major loans worth CNY 250 million (€32.2 million/$35.5 million) and CNY 200 million (€25.8 million/$28.4 million).
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