JES International Holdings: Its auditors could not issue a clean bill of health for the group in view of "material uncertainties that may cast significant doubt" on the group's ability to continue operating and staying afloat.
The auditors also flagged that limited information was made available to enable them to perform procedures to determine the appropriateness of the going concern assumption by directors who prepared the financial statements.
The Chinese shipping firm had incurred a net loss of 290.5 million yuan (S$58.8 million) and had net cash outflows from operating activities of 212.8 million yuan for the financial year ended Dec 31, 2014. As at Dec 31, 2014, the group's current liabilities exceeded current assets by 590 million yuan.
China Sky Chemical Fibre Co: One of its subsidiaries is being sued by former employees who were laid off, while China Construction Bank has also commenced legal proceedings against the group and its subsidiaries.
In a regulatory filing with the local bourse on Monday, China Sky said that it received an order of court from the district court in Quanzhou, Fujian against its subsidiary Tianyu Chemical Fiber & Weaving Industry Co Ltd on July 18 for compensation totalling 800,000 yuan (S$162,000) to 34 former employees. The company has paid a total of 330,000 yuan to nine of the claimants.
China Fibretech: The group's sole independent director has highlighted that due to the unresolved issues over the auditor's findings, he was unable to form a view on the financial statements of the company for the second quarter and the six-month period ended June 30, 2016.
In particular, the independent director was unable to form a view on the damage claims of three customers, as well as the existence of bank balances in the current account amounting to 450.2 million yuan (S$91.1 million) in one of the group's Chinese bank accounts.
For its Q2, the group on Tuesday posted a net loss of 73,000 yuan compared with a 2.87 million yuan profit a year ago due to weak demand.
Trading has currently been suspended for the stock.