China’s A-shares started off with a strong rebound this week, after plunging to an all-time low last Thursday and Friday. In the short term, A shares are stabilizing on the market. Many listed LED manufacturers that suspended trade to avert impacted by the volatile stock market have gradually resumed trade. More than 350 listed Chinese companies resumed trade as of Monday, according to latest statistics.
Chinese LED manufacturers resuming trade on the bourse include San’an Opto, Moso Power, and Aucksun Opto.
Although, many manufacturers halted and resumed trading on the bourse “on a whim,” LEDinside will not be commenting on their behavior. Below listed are Chinese LED manufacturers official statements about suspending trade on China’s bourse.
San’an Opto halts trade ahead of LiFi partnership with Chinese research institute
San’an Opto suspended trade on the Chinese bourse on July 8, 2015, but has resumed trade on July 13 and announced it has sealed a LiFi partnership deal with Shanghai Institute of Aerospace and Electronics.
Moso Power employee share options requires further verification
Moso Power (Moso) has suspended trade since July 8 because it intended to offer stock options to its employees, and was considering to ask management to increase their shareholdings in the company. Due to uncertainties in the plan, the company had applied to temporarily halt trade on the market.
The company announced Monday it is still in the process of evaluating and verifying whether it should offer employees share options. Moso decided to prioritize raising managements shareholdings in the company, and submitted its application resume trade to the Shenzhen Stock Exchange. The company has resumed trade as of July 13, 2015.
Auckson Opto terminates acquisition plan
In an earlier announcement on July 8, Auckson Opto announced it suspended trade ahead of acquiring an online education company, due to uncertainties involved in the deal, which could have triggered irregular share value performance on the stock market.
During this period the companies involved negotiated, but could not arrive to a consensus on the transaction value and transaction date. The companies could not agree on the trade value, and acceptable operation methods because of rapid changes in related markets. After thorough evaluations, the company concluded it would be difficult to carry on negotiations, and decided to call off the acquisition. The company has resumed trade on the Shenzhen Stock Exchange as of July 13.
