Streaming service Leshi poised for delisting as red ink mounts

DALIAN, China — Foundering Chinese video-streaming company Leshi Internet Information & Technology looks set to be delisted from the Shenzhen Stock Exchange as it nears a key deadline with no path to recovery in sight.

Leshi was suspended from the startup-focused ChiNext board on May 13, 2019, after reporting roughly 3 billion yuan ($423 million at current rates) in negative net assets for 2018. Exchange rules stipulate that the listing must be terminated if the company fails to recover within the following year.

Leshi booked a net loss of 11.2 billion yuan for 2019, its third straight year in the

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