Cash-strapped Shanghai-listed Chinese property developer Sichuan Languang Development is facing delisting risks, after its closing price fell below one yuan per share for two consecutive days and the company warned of insolvency.
Shares of Sichuan Languang closed down 7.77% at 0.95 yuan (14 U.S. cents) on Thursday. On Friday, the company closed further down 2.11% to 0.93 yuan per share.
