SSE suspends share trading of Changhe Auto

Shanghai, May 11 (Gasgoo.com) The Shanghai Stock Exchange (SSE) has suspended trading in shares of Jiangxi Changhe Automobile Co starting today until further notice, Chinese newspaper Guangzhou Daily reported.

Changhe Auto said in a statement that the automaker has made profit losses for three consecutive years ending 2008, thus in accordance with regulations, SSE will put trading of Changhe Auto on the hold until they remove the cause of suspension.

The Jiangxi-based automaker will likely drop its automotive sector and become an aircraft lighting and electronics producer at some future point following the suspension, according to the report.

The restructuring is left to be approved by China Securities Regulatory Commission.

Changhe Auto is an auto-making affiliate to Aviation Industry Corp of China (AVIC), China's largest aviation group.