HONG KONG, April 3 (Reuters) - Yingde Gases, the
subject of a rare public Chinese boardroom battle, said on
Monday its 2016 earnings results would be delayed as it was
still completing audit work, and requested that trading in its
shares be suspended.
Last week, Yingde Gases, China's largest producer of
industrial gases, warned its financial position may be
"materially adversely impacted" following a management
"The company is in the course of finalising certain
workstreams to facilitate the completion of the audit work by
the auditor," Yingde Gases said in a statement to the Hong Kong
A meeting of the board of directors was being convened for
April 7 at which the 2016 annual results would be considered.
The company expected to annouce its earnings around that time,
The share trading suspension was expected to remain until
the publication of its 2016 results.
Yingde's stock has more than doubled since late December,
when U.S. industrial gas maker Air Products made a
takeover approach of up to $1.5 billion in cash for the company.
Earlier this month, a majority of Yingde Gases shareholders
voted to keep two of its co-founders and main shareholders on
its board and oust five other board members, ending a battle for
control of the firm.
(Reporting By Anne Marie Roantree; Editing by Richard Pullin)