JD group SW (09618. HK) announced today that it would update the company's relevant status under the foreign company Accountability Act ("hfcaa"). JD group was informed that after the company submitted its annual report form 20-F for the fiscal year ended December 31, 2021, the U.S. Securities and Exchange Commission ("sec") included the company in the list of recognition based on hfcaa on May 4, 2022, New York time.
JD group understands that the SEC made such determination in accordance with hfcaa and its implementation rules, indicating that the SEC determined that the company used the audit report for the fiscal year ended December 31, 2021 issued by the audit institution that currently cannot be reviewed by the public company accounting oversight board ("PCAOB").
According to hfcaa, listed companies will be delisted from the US exchange only if the audit institution that has been recognized by the SEC for three consecutive years to use the audit draft that has not been reviewed by PCAOB issues an annual audit report.
JD group has been actively seeking possible solutions. The company will continue to comply with relevant laws and regulations of China and the United States, and maintain its listing status in the Nasdaq market and the Hong Kong stock exchange if conditions permit.
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