China's securities regulator has halted reviews of IPO applications for 29 companies that hired Ruihua Certified Public Accountants, according to a statement released by the China Securities Regulatory Commission (CSRC) on Friday.
Ruihua, which has been auditor of scandal-ridden Kangde Xin Composite Material Group Co. Limited since 2012 , is currently under investigation by the securities regulator for its role in Kangde Xin's information disclosure breaches after an inquiry into the listed company uncovered a massive fraud.
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