The Shenzhen Stock Exchange has terminated the listing of LeTV stocks.
According to the announcement on Thursday, LeTV's 2019 annual report released on April 27 revealed that the company's audited net profit attributable to shareholders of listed company in 2019, net profits after deducting non-recurring gains and losses, and net assets at the end of the period are all negative.
The annual financial report was issued by Da Hua Certified Public Accountants with a qualified audit report, which touched on the Exchange's GEM listing rules.
According to the Exchange's listing rules for GEM stocks and the audit opinions of the Exchange's listing committee, the Shenzhen Stock Exchange decided to cease the listing of LeTV stocks on May 14.
LeTV, also known as Leshi Internet Information and Technology Corp., had negative net assets attributable to shareholders of listed company audited in 2018, and the company's stocks had been suspended from May 13, 2019.