China Sunergy faces losing its NASDAQ stock market listing if it cannot persuade the exchange authorities of its intent to submit a missing filing.
The Chinese cell and module manufacturer today announced on its website it has received a warning letter from the New York exchange about a missing form 6-K relating to the period ending June 30.
The Xinjiang-based manufacturer has until March 9 to come up with plan for filing the missing form, the contents of which have not been specified.
If the NASDAQ authorities are persuaded of the efficacy of any plan submitted, they have leeway to grant until June 29 for the missing U.S. Securities and Exchange Commission form to be submitted.
Required updates
With foreign companies exempted from the requirement imposed upon U.S. businesses to file form 10-Q quarterly trading updates or form 8-K updates on significant events affecting their business, form 6-K provides such companies with the ability to publish information that must be made publicly available in their domestic territories in between their required form 10-K annual reports.
The commonest use of form 6-K is to inform investors of significant increases or decreases in the amount of shares issued in the company and in levels of indebtedness or to publish the result of shareholder votes.
But form 6-K can also be used to publicize changes in business; management or control; accountants; financial conditions and operations; and securities; as well as the acquisition or disposal of assets; bankruptcy and receivership; material legal proceedings; defaults; transactions with directors, officers or leading shareholders; share options or payments to directors and officers; or any other information of material importance to shareholders.
Popular content
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
Share
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.