Key Developments: Keyuan Petrochemicals Inc (KEYP.PK)
0.99USD
10 May 2013
$0.14 (+16.47%)
$0.85
$0.90
$0.99
$0.85
40,200
8,854
$1.75
$0.30
Latest Key Developments (Source: Significant Developments)
Keyuan Petrochemicals Inc Issues FY 2013 Guidance
Keyuan Petrochemicals Inc announced that for fiscal 2013, it expects total revenues to be between approximately $750.6 million and total net loss to be approximately $3.3 million. Full Article
Keyuan Petrochemicals Inc Announces Delay In Filing Annual Report on Form 10-K
Keyuan Petrochemicals Inc notified the Securities and Exchange Commission (SEC) that it is unable to file its Annual Report on Form 10-K (the Form 10-K) for the year ended December 31st, 2012 within the prescribed time period because it requires additional time to complete the required financial statements, however the Company expects to file shortly. On April 2, 2013, the Company filed a Form 12b-25 with the Securities and Exchange Commission (the SEC) which gave the Company an additional fifteen days to file its Form 10-K for the year ended December 31, 2012. The Company does not expect to file the Form 10-K within the additional time period prescribed under Rule 12b-25 because it is still finalizing the financial statements. As a result, the Company needs additional time to complete and review the financial statements and disclosures to be contained in the Form 10-K. Full Article
Keyuan Petrochemicals Inc Settles U.S. SEC Accounting Charges-Reuters
Reuters reported that Keyuan Petrochemicals Inc agreed to pay $1 million to settle securities fraud charges in the United States, as regulators have stepped up efforts after misconduct at U.S.-listed Chinese companies. Lawyers for the Company and for Li did not immediately respond to requests for comment. Full Article
Keyuan Petrochemicals Inc Announces Share Buyback Plan
Keyuan Petrochemicals Inc announced its Board of Directors has authorized the repurchase of $2 Million of the Company's common stock up to $1.50 per share. Keyuan will fund the share repurchases from cash on hand. Full Article
Keyuan Petrochemicals Inc Reaffirms FY 2012 Revenue Guidance; Lowers FY 2012 Net Income Guidance; Reaffirms FY 2012 Production Guidance
Keyuan Petrochemicals Inc reaffirmed its fiscal 2012 revenue guidance of $880 million. The Company also expects net income of $20 million. The Company also reaffirmed its production guidance 760,000 MT. Full Article
Keyuan Petrochemicals Inc Reaffirms FY 2012 Guidance; Reaffirms FY 2012 Production Guidance
Keyuan Petrochemicals Inc reaffirmed fiscal 2012 revenue and production guidance. The Company expects $880 million of revenues, $30 million of net income and 760,000 MT of production. This assumes approximately $100 million to $110 million of revenue and $10 million to $11 million of net income contribution from its SBS production facility. Full Article
Keyuan Petrochemicals Inc Issues FY 2012 Guidance; Issues FY 2012 Production Guidance
Keyuan Petrochemicals Inc announced that for fiscal 2012, it expects $880 million of revenues, $30 million of net income and 760,000 MT of production. This assumes approximately $100 to $110 million of revenue and $10 to $11 million of net income contribution from its SBS production facility. Full Article
Keyuan Petrochemicals Inc Announces To Cease Trading On NASDAQ
Keyuan Petrochemicals Inc announced that it has received a letter from NASDAQ regarding a permanent delisting of its stock. The Company's stock will continue to trade on OTC Markets under the ticker symbol KEYP. NASDAQ will file a Form 25 with the Securities and Exchange Commission to complete the delisting. The delisting becomes effective ten days after the Form 25 is filed. Full Article
Keyuan Petrochemicals Inc Files Extension For 2011 Form 10-K Filing
Keyuan Petrochemicals Inc announced that it filed Form 12b-25 with the Securities and Exchange Commission on March 16, 2012 to extend the filing of the Company's Form 10-K for the year ended December 31, 2011 within the 14-day grace period. Full Article
Cohen Milstein Sellers & Toll PLLC Announces Investigation Of Keyuan Petrochemicals Inc
Cohen Milstein Sellers & Toll PLLC is conducting an investigation to determine whether Keyuan Petrochemicals, Inc. and certain of its officers and directors or outside auditors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. A class action lawsuit has been filed in the U.S. District Court for the Central District of California by another law firm on behalf of purchasers of the common stock of Keyuan, Inc. between August 16, 2010 and October 7, 2011, inclusive. The complaint alleges that Keyuan and certain of its officers and/or directors (Defendants) failed to properly disclose material related party transactions that rendered the Company's reports filed with the Securities and Exchange Commission (SEC) false and misleading. Prior to the market open on April 1, 2011, trading in Keyuan shares was halted. In SEC filings later that day, the Company reported that it had requested the trading halt, and that it would be unable to timely file its 2010 Form 10-K due to “unexplained issues regarding certain cash transactions and recorded sales” raised by its auditor, KPMG, LLP. Keyuan reported that it had engaged counsel and commenced an investigation into the matters raised by KPMG, while warning that certain previously issued financial statements should no longer be relied upon. Full Article
China-based Keyuan settles SEC accounting charges
WASHINGTON - Keyuan Petrochemicals Inc, a China-based petrochemical company, agreed to pay $1 million to settle securities fraud charges in the United States, as regulators have stepped up efforts after misconduct at U.S.-listed Chinese companies.
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