BEIREN Printing Machinery Holdings has yet to clear the final hurdle for its shares to be listed in Hongkong by the end of the month. The company is still striving to catch up with Guangzhou Shipyard and Tsingtao Brewery, whose flotation plans will be heard by the stock exchange's listing committee next week. Merchant bankers are understood to have been in Beijing for the past few days to sort out the final details of the issue. Stock exchange chairman Charles Lee has made it clear that those proposed listings failing to issue prospectuses by June 30 would not receive a waiver to the six-month rule on current accounting in offers. This would mean that if Beiren's flotation misses the June 30 deadline, it will have to re-submit a document consisting of profit forecasts for the whole 1993 financial year and half of 1994. Beiren is one of China's largest manufacturers of sheet-fed offset presses, producing 60 per cent of the advanced offset printing machines on the mainland. Hongkong stock analysts say that Beiren, reliant on the domestic market, would be more exposed to China's currency risk than the other three listing candidates. The group has more than 60 per cent of the national printing-machine market and a 90 per cent share of the quality end of the market. It plans to float six wholly owned subsidiaries in one entity in Hongkong. More than 50 per cent of the group would remain in the hands of its parent, the state-owned Beiren Group Corp. The assets to be listed include three printing machine manufacturing plants, a colour separation plant, a gear-making plant and a merchandising division. While its A shares will be listed on the Shanghai stock exchange, the new shares will be offered in Beijing, where the company is based. The company's turnover rose from $145 million in 1990 to $280 million in 1992. Profit stood at about $50 million in 1992.