No Respite for Huarong Investors as Earnings Delay Adds to C

No Respite for Huarong Investors as Earnings Delay Adds to Chaos


No Respite for Huarong Investors as Earnings Delay Adds to Chaos
Apr 26 2021, 10:39 PM
April 26 2021, 11:03 AM
April 26 2021, 10:39 PM
(Bloomberg) -- What investors in China Huarong Asset Management Co. want is transparency over its future. What they’re getting is a lesson in how opaque Chinese state-owned companies can be.
(Bloomberg) -- What investors in China Huarong Asset Management Co. want is transparency over its future. What they’re getting is a lesson in how opaque Chinese state-owned companies can be.
On Sunday, the embattled firm announced it wouldn’t publish its 2020 earnings by the end of this month -- the deadline required by Hong Kong’s stock exchange. Instead of providing clarity, the company released a thinly-worded statement in Chinese only, mostly reiterating information that investors already knew. There was no indication of when results would be published or if anything has changed since its April 1 filing to the city’s exchange, where China Huarong shares trade.

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