Discovering 3 Promising Global Penny Stocks Under US$600M Market Cap

The article discusses three promising global penny stocks with market caps under US$600M amidst recent declines in global markets, particularly in the U.S. due to Federal Reserve's hawkish stance. It highlights Asphere Innovations, Elec-Tech International, and Beijing Tongtech, detailing their market caps, revenue sources, and financial health. Despite challenges like declining earnings and volatility, these companies show potential for growth, attracting investors looking for affordable opportunities in the current economic climate.

The cross-border payment sector fluctuated and weakened, *ST Tongtech fell over 10%

The cross-border payment sector is experiencing fluctuations and weakening, with *ST Tongtech falling over 10%, ECLICKTECH dropping over 8%, Forms Syntron declining over 6%, and NORTHKING TECH., Lakala, and CTD all seeing declines

ST Tongtech hit the daily limit, reported at 2.35 yuan, an increase of 19.90%

Economic Daily: There should be comprehensive accountability for financial fraud

The China Securities Regulatory Commission (CSRC) has taken multi-dimensional punitive measures against the financial fraud of *ST Tongtech, including exorbitant fines, market bans, forced delisting, and criminal referrals, emphasizing accountability for illegal personnel. This action aims to shatter the illusion that listed companies can evade responsibility through delisting and to promote the establishment of a market environment where fraud is neither dared, nor can be, nor is desired. To this end, it is necessary to strengthen information disclosure, audit supervision, and reporting mechanisms to form an effective regulatory closed loop

Dongfang Tong: May be forced to delist due to financial fraud, stock faces additional risk warnings

Tongtech has been investigated by the China Securities Regulatory Commission for financial fraud and faces the risk of forced delisting. The company inflated its revenue and profits by fabricating business from 2019 to 2022 and was also suspected of fraudulently issuing stocks in 2022. Starting from September 15, the company's stock will be subject to delisting risk warnings, and if it triggers significant illegal circumstances, it will be delisted