Jifeng Agri-Machinery suspends share trading

Published: 05 Nov 2009 23:26:38 PST

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Nov. 6, 2009 (China Knowledge) - Sichuan Jifeng Agricultural Machinery Chain Co Ltd<300022>, China's leading agricultural machinery firm, said yesterday it would suspend share trading today, sources reported.

Jifeng said in a statement that the company would verify the disclosure procedures so as to give all the investors access to information that may have a great impact on the stock price of the company.

The company debuted on the ChiNext Board on the Shenzhen Stock Exchange on Oct. 30. Its shares jumped 98.93% above its IPO price on its first day of trading.

The company raised RMB 123.89 million by issuing 22.4 million shares, or 25.07% of the company's enlarged capital.

Sichuan Jifeng posted nearly RMB 1.1 billion of operating revenue in the third quarter of this year, with net profit standing at RMB 28.79 million during the period.