Fuqi is working to restate prior results for parts of 2009 and has yet to file its Form 10-K for the past two fiscal years.
The company expects its shares will continue to trade over-the-counter through the Pink Sheets electronic exchange under the same symbol.
Fuqi shares closed Friday's regular session down 8.7% at $3.36, and dropped another 18% to $2.75 in extended action on volume of around 55,000.
--Written by Michael Baron in New York.
>To contact the writer of this article, click here: Michael Baron.
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