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US-China tensions

Weibo put on notice by SEC for potential delisting from Nasdaq

Social media platform is China's sixth company flagged for nondisclosure

The Weibo logo appears at the Nasdaq MarketSite in Times Square in celebration of its 2014 initial public offering.   © Reuters

SHANGHAI -- The U.S. Securities and Exchange Commission has placed Chinese social media platform Weibo among a group of stocks facing delisting, extending the roster of Chinese companies flagged for failing to meet financial disclosure requirements.

Nasdaq-listed Weibo becomes the sixth Chinese corporation cited by the SEC for possible delisting under a 2020 law on financial disclosures, according to Wednesday's announcement. Yum China Holdings, which operates KFC chicken restaurants in China, was among the five others named earlier this month.

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