Wingtech Faces Delisting Risk Following Auditor's Disclaimer of Opinion
Shanghai-listed firm struggles with access to Nexperia's overseas financial records
L'essentiel
- Wingtech Technology faces a delisting risk warning on the Shanghai Stock Exchange after its auditor issued a disclaimer of opinion regarding Nexperia's financial records.
- The company has until the end of 2026 to resolve the audit issues.
Résumé généré par IA
The risk was triggered after Wingtech’s auditor issued a “disclaimer of opinion”, citing restrictions in verifying the financial records of Nexperia’s overseas operations, according to a company filing to the Shanghai bourse on Wednesday.
In the Wednesday filing, Wingtech said it was working to restore its internal management system and gain full access to Nexperia China’s data to solve the audit issues.
Wingtech’s stock will be subject to a delisting risk warning starting May 6, after which trading will halt if the price fluctuates more than 5 per cent, according to the latest filing. The company could be forced to delist from the exchange if the issues are not resolved by the end of 2026.
The company’s stock and convertible bonds were also suspended from trading for one day on Thursday.
