FILE PHOTO: Logo of Alibaba Group is seen at its office building in Beijing, China新2会员网址（www.hg108.vip）实时更新发布最新最快最有效的新2网址和新2最新网址,包括新2手机网址,新2备用网址,皇冠最新网址,新2足球网址,新2网址大全。
ALIBABA Group Holding Ltd on Monday said it would work to maintain its New York Stock Exchange listing alongside its Hong Kong listing after the Chinese e-commerce giant was placed on a delisting watchlist by U.S authorities.
Alibaba stock was down 4.5% in a near-flat Hong Kong market in early trade, following its 11.1% decline in New York on Friday.
The company on Friday became the latest of more than 270 firms to be added to the U.S. Securities and Exchange Commission's list of Chinese companies that might be delisted for not meeting auditing requirements.
The Holding Foreign Companies Accountable Act (HFCAA) is intended to address a long-running dispute over the auditing compliance of U.S.-listed Chinese firms.
It aims to remove foreign companies from U.S. exchanges if they fail to comply with American auditing standards for three consecutive years.
Alibaba on Monday said being added to list meant it was now considered to be in its first 'non inspection' year.
"Alibaba will continue to monitor market developments, comply with applicable laws and regulations and strive to maintain its listing status on both the NYSE and the Hong Kong Stock Exchange," it said in a statement to the Hong Kong bourse.
U.S. regulators have been demanding complete access to audit working papers of New York-listed Chinese companies, which are stored in China.,
,Telegram游戏频道（www.tel8.vip）是一个Telegram群组分享平台。Telegram游戏频道包括Telegram群成员导出、telegram群组索引、Telegram群组导航、新加坡telegram群组、telegram中文群组、telegram群组（其他）、Telegram 美国 群组、telegram群组爬虫、电报群 科学上网、小飞机 怎么 加 群、tg群等内容。Telegram游戏频道为广大电报用户提供各种电报群组/电报频道/电报机器人导航服务。
Beijing bars foreign inspection of working papers from local accounting firms.
The U.S. rules give Chinese companies until early 2024 to comply with auditing requirements, though Congress is weighing bipartisan legislation that could accelerate the deadline to 2023.
China has said both sides are committed to reaching a deal to solve the audit dispute.
Alibaba said last week it planned to apply to convert its Hong Kong secondary listing to a dual primary listing which would make it easier for mainland Chinese investors to buy its shares.
A dual listing would allow Alibaba to apply for admission to Stock Connect, the scheme connecting Hong Kong and mainland exchanges. Analysts estimated there could be $21 billion worth of inflows from mainland investors into Alibaba stock through Stock Connect.
Alibaba's Hong Kong-listed shares have fallen 49% from HK$176 at the time of its secondary listing in November 2019 to HK$90.15 on Monday. In New York its shares were listed in 2014 at $68 each and are trading at $89.37.
Both sets of listed shares are down nearly 25% so far this year as the company battles the delisting threat, ongoing Chinese tech regulation and the prospect of its founder Jack Ma ceding control of the firm's affiliate Ant Group.
Analysts at Jefferies described Alibaba's share price drop as a "knee-jerk reaction" to the news of a potential delisting, and added that the 2024 deadline for Chinese American Depository Receipt delisting gives China adequate time to resolve its audit issues.