The Shenzhen Stock Exchange imposed restrictions on the shares held by the shareholders of Changchun Changsheng Life Sciences on Monday, amid a continuing scandal over the safety of one of its vaccines.
Photo: szse.cn
Changchun Changsheng Life Sciences temporarily suspended trading Monday morning, after confirming it received an investigation notice by the China Securities Regulatory Commission, according to its midday announcement.
The stock resumed trading in the afternoon and fell to 13.05 yuan ($1.92), and kept falling to the limit of ten percent by the close of the trading day.
It was its sixth consecutive fall to the 10-percent limit.
Changsheng share on July 23, 2018. (Photo: Sina finance)
Vaccine stocks tumbled following the rabies vaccine scandal, as shares of the company at the center of the scandal temporarily suspended trading in the A-share market Monday morning.
The China Food and Drug Administration (CFDA) earlier found Changchun fabricating production data and violating the country’s drug production quality management protocols.
Shares of Changsheng resumed trading in the afternoon after the company received a Notice of Inquiry from the China Securities Regulatory Commission.
Changsheng share weekly review. (Photo: Sina finance)
The scandal engulfed vaccine and biological and medical industry shares at the stock market. A-shares opened lower on Monday, with the benchmark Shanghai Composite Index down 0.5 percent at 2,815.20 points and the Shenzhen Component Index 0.68 percent lower at 9,188.46 points in morning trading.
