China’s Leading Auto Dealer Faces Delisting as Stock Sinks

China Grand Automotive Services Group Co. Ltd., one of the country’s largest auto dealers, is set to be removed from the Shanghai Stock Exchange after its stock consistently traded below par value, as a cut-throat price war rattles the world’s largest car market.

Grand Automotive (600297.SH) closed down 10.34% at 0.78 yuan per share on Wednesday, the 20th trading session in a row the stock traded below 1 yuan, triggering a delisting according to market rules. The delisting will affect nearly 100,000 investors.