On June 19th, Dongfang Cable (603606.SH) hit the limit down circuit breaker, hitting a new low of 1.22 yuan since April 2006, with a total market value of 4.46 billion yuan. According to news, the company and subsidiaries faced restricted access to more than 1.6 billion yuan in deposits in their holding company, Dongfang Finance; the Shanghai Stock Exchange swiftly issued a regulatory letter requiring the company to investigate whether related funds were embezzled by the holding shareholders and related parties, and whether it constituted non-operational fund misappropriation; previously, the controlling shareholder of Oriental Group failed to repay bank loans within the stipulated period, causing Oriental Group's guarantee to expire.
A股异动 | 东方集团一字跌停 超16亿存款大额提取受限
A-share fluctuations | Orient Group Incorporation hits limit down, with more than 1.6 billion yuan in deposits subject to large withdrawals restrictions.
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