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China, Shenzhen stock exchange, Kangde Xin Composite Material Group Co Ltd, under restricted trading after auditors refuse to back the company's cash position.

Auditors say they have zero cash. Company says they have 12.2B RMB cash, defaulted on 2 bonds in Dec. Shell company controlled by owner Zhong Yu.

police arrested Zhong Yu, chairman and controlling shareholder. Total scam, fraud, illegal on the stock exchange.

scmp.com/business/banking-fina

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