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| Tuesday, December 02, 2008 00:14:10 |
Regulators investigate Zarva Technology
Zarva Technology announced that it was being investigated by the
Chongqing Branch of China's Security Regulatory Commission over alleged
violations of securities rules, National Business Daily
reports. This is the second investigation of Zarva Group-related
companies this year; in August, Xichang Power, which was acquired by
Zarva in 1996 and went public in 2002, was investigated for improper
disclosure of information. This latest investigation evidently also is
related to improper disclosure, in the amount of 800 million yuan
(US$98.8 million). Zarva announced per-share losses of 0.92 yuan for
the first three quarters of this year, and predicts losses for the
entire year. Zarva Technology: 000688.SZ Xichang Power: 600051.SH Link: http://news.hexun.com/detail.aspx?lm=1720&id=1411200
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