Xingye Tech Plunges After CSRC Probe Over Undisclosed Loss-Making Asset

TREE NEWS update: Xingye Technology’s shares hit the daily limit down after the company disclosed on Sept 4 that the China Securities Regulatory Commission (CSRC) has launched an investigation into suspected violations of information disclosure rules. A company representative told investors that the probe relates to an earlier acquisition agreement that failed to disclose that the target asset had not yet turned profitable.