Financially troubled shipbuilder Sainty Marine has announced that it has received a notice of investigation from China Securities Regulatory Commission for disclosure violations.
Sainty Marine has failed to report to the stock exchange a bundle of lost orders, breaching information disclosure rules. The company said it is facing the risk of delisting if the commission finds major illegal activities in the investigation.
In April Shenzhen Stock Exchange made an announcement in which it had denounced Sainty Marine for violations of information disclosure rules.
Sainty Marine has suspended stock trading since August 6 to work on a rejuvenation plan.