Fuhuang Steel Structure to Be Placed Under Other Risk Alert After Bank Accounts Frozen

Fuhuang Steel Structure said on September 4 that its shares will be placed under other risk alert after the company and its subsidiaries’ main bank accounts were frozen. According to Jiemian News, the company said that as of September 3 it and its subsidiaries had 411 bank accounts with a combined balance of 163 million yuan, of which 280 accounts holding 104 million yuan were frozen due to contract disputes and overdue borrowings. The frozen accounts and balances accounted for 68.13% and 63.92% of the totals, respectively. The stock will be suspended for one day from the market open on September 7 and resume trading on September 8, when its abbreviation will change from “Fuhuang Steel Structure” to “ST Fuhuang”; the stock code will remain 002743 and the daily price limit will stay at 10%.