BEIJING: China and the United States could still find a way out of the ongoing audit dispute regarding US-listed Chinese companies despite the US Securities and Exchange Commission adding 12 such companies to a provisional delisting list on Tuesday, experts said.

       The 12 Chinese companies were identified to face delisting risks in accordance with the US Holding Foreign Companies Accountable Act (HFCAA).

       If the 12 companies fail to provide evidence within 15 business days that they still meet US requirements for listed companies, they will likely be conclusively identified under the HFCAA and may have to delist in 2024. Unconfirmed reports suggested the 15-day period would end on May 3.

       The list includes Sohu.com Ltd, a prominent name in China’s media and entertainment industry. Other companies include Noah Holdings Ltd, a wealth and asset management service provider, and China Automotive Systems Inc, a power steering components and systems supplier.

       The move marked the fourth batch of Chinese issuers to face such action. In the previous three batches, 11 companies figured in the provisional delisting list since March, with five being moved to the conclusive delisting list. — China Daily/ANN