Five Chinese companies have been included in a provisional list of 270 companies by the U.S. Securities and Exchange Commission (SEC) to be delisted from U.S. stock markets. If these companies fail to submit detailed audit documents supporting their financial statements within the required time frame, they will be forced out from American exchanges by the SEC. The news has caused popular Chinese tech stocks to plunge. The five Chinese companies cited by SEC on March 10 are fast-food company Yum China Holdings (YUMC), tech firm ACM Research (ACMR), two biotech groups – BeiGene (BGNE), Zai Lab (ZLAB), and pharmaceutical company Hutchmed. The SEC pointed out that these companies have not been adhering to the Holding Foreign Companies Accountability Act (HFCAA). According to the law, the SEC has the power to delist companies from the New York Stock Exchange and Nasdaq exchange if they fail to allow U.S. watchdogs such as the Public Company Accounting Oversight …