CHINA'S most profitable listed company came under fire from a group of angry investors yesterday because of an alleged rule violation which triggered a sharp drop in its share price. A dozen investors, in a front-page letter in the China Securities News, accused Sichuan Changhong Electric of allowing bonus shares transferred by its legal-persons shareholders to individuals to be listed. Under existing rules, rights and bonus shares sold by state and legal-persons investors to individuals are not allowed to be traded on the stock exchange. They demanded a full explanation from the 'model' listed company for what they claimed was knowingly breaking the comapany law. But some analysts said Sichuan Changhong had made it clear in its rights prospectus issued in July that shares transferred by legal-persons and state investors to individuals could not be listed. Investors alleged that the company had allowed these bonus shares to be listed, prompting a drop in its price. The share last traded at 9.7 yuan (about HK$9.02) yesterday before trading was suspended in the afternoon. Last Friday, Sichuan Changhong Electric shares closed at 18.73 yuan. On Monday, once word had got out that the bonus shares had been listed, investors feared that the move would open the floodgates for more such shares to be listed and began dumping the shares. The company's shares closed at 9.81 yuan, making one of the five biggest losers in individual share value. Sichuan Changhong is China's largest manufacturer of colour televisions. It was recently ranked second in a national evaluation of listed companies. Its net assets earnings ratio for every 100 yuan last year was 48.72 yuan. Its earnings per share was 2.97 yuan.