Insiders revealed to The Epoch Times that the China Securities Regulatory Commission favored interest groups, leaving small and medium retail investors to bear losses in the case of a delisted company accused of falsifying $2.3 billion in financial data. Jiangsu Province-based Kangde Xin Composite Material (Kangde Xin) is a technology company focused on pre-filming materials, photoelectric materials, and carbon materials. The company has been listed on the Shenzhen Stock Exchange (SZSE) since July 2010. On March 15, 2021, however, SZSE issued a prior notice to delist to Kangde Xin Composite Material. Delisting removes the listed security of a company from a stock exchange, which may cause investors’ ownership rights to become worthless. “On Feb. 28, 2021, KDX [Kangde Xin Composite Material] disclosed its retroactively adjusted financial statements, which showed that the company’s corrected net profits from 2015 to 2018 were -1,481 million yuan ($227.51 million), -1,755 million yuan ($269.60 million), …
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