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In a further set-back to the Chinese transmission and wind turbine manufacturer A-Power, the company has now been officially delisted from Nasdaq due to accounting difficulties.
The company first had its shares halted in June when its auditor resigned. It is among a number of Chinese companies that have experienced warnings from US exchanges following accounting irregularities or warnings.
According to the Wall Street Journal, the company has asked for its shares to be continued to be halted but the exchange refused.
A statement said, 'There can be no assurance that the Nasdaq suspension will be reversed or that the panel will grant the company's request for continued listing.'
A document filed with the Securities and Exchange Commission in the US shows A-Power has now appointed BDO Daejoo as its new independent registered public accounting firm and has specifically engaged it to audit the company's financial statements for the year ended 31 December.
MSCM had previously said it had resigned because the company had not retained a 'qualified independent forensic' accounting firm to evaluate certain business transactions that it had stated was necessary.
