CLOUD Live Technology Group Co., which has been plagued by regulatory probes, faces the prospect of being delisted from the Shenzhen Stock Exchange, it said Friday after posting a second straight annual loss.

    “Revenues from our restaurant business are still falling, our recycling business has fallen short of expectations and the new media and big data [operations] haven’t had any contributions yet,” Cloud Live said in a filing.

    The company, which changed its name from Beijing Xiangeqing Group Co. in August 2014, reported a 2014 preliminary net loss of 562.5 million yuan (US$90 million), narrowing slightly from the 564.4 million yuan it reported a year ago.

    It is liable to be delisted if it logs another loss in 2015, according to listing rules by China’s securities regulator.

    Cloud Live, a restaurant chain operator that has been diversifying into information technology services, and its former chairman, Meng Kai, have been investigated by China’s securities regulator for possible violation of securities and disclosure laws.

    So far, there have been no conclusions to the probes, the company said in a separate statement Friday.

    The latest statement came after the markets closed. Cloud Live’s shares earlier ended up 1.03 percent at 6.88 yuan, roughly matching the Shenzhen index’s performance. (SD-Agencies)