Discouraged by slumping sales, more Chinese property companies are retreating from the Shanghai, Shenzhen, or Hong Kong exchange market, adding to the number of companies delisted since last year.
On May 8, the share of Jiangsu Zhongnan Construction Group (000961. SZ), an ever-booming property company that listed on the Shenzhen Stock Exchange in March 2000, continued to fall after its share price sank below 1 yuan (14 cents) for 20 consecutive trading days—a warning indicator for delisting.
