China puts Focus Media on 'irregular activities' list

According to China's financial website Eastmoney , on the website of the country's National Enterprise Credit Disclosure System, as of December 14, 2023, the Guangzhou Market Regulation Bureau has listed Focus Media (Focus Media Information Technology, formerly known as Focus Media Holding) as a company with abnormal business activities.

Focus Media is one of the companies applying technology solutions to display images in elevators.

Previously, the authorities had contacted this unit many times through the information of the registered business location but were unsuccessful.

Focus Media was established in August 1997, with Jiang Nanchun as its legal representative. Its business areas are quite diverse, including providing information technology consulting services, software development, computer infrastructure network engineering services, research and development of network technology... The company's website advertises itself as "the creator of the elevator media advertising model".

Notably, this company was once listed on the US NASDAQ stock exchange but was later delisted in 2015. The reason is said to have started when the US financial research company Muddy Waters accused Focus Media of falsifying financial data and conducting fictitious transactions... The accusations caused the Chinese company's stock price to plummet and it no longer received attention from the market. Currently, Focus Media is listed on the Chinese stock market.

Focus Media is currently listed on the Chinese stock market. Eastmoney data shows that as of the close of trading on December 19, 2023, the company's share price was 6.18 yuan, with a market value of 89.25 billion yuan; total assets of 23 billion yuan, and liabilities of 6.115 billion yuan.

Source link: https://thanhnien.vn/trung-quoc-dua-focus-media-vao-nhom-hoat-dong-bat-thuong-185231219153516281.htm