深交所公告，天茂实业于2025年8月25日召开临时股东会审议通过了主动终止上市相关议案，并于9月4 日向本所提交了股票终止上市申请材料。上述股票终止上市申请已经本所上市审核委员会审议通过。根 据本所《股票上市规则（2025年修订）》第9.7.1条第一款第一项、第9.7.9条第三款的相关规定以及本所 上市审核委员会的审议意见，本所决定公司股票终止上市。根据本所《股票上市规则（2025年修订）》 第9.7.11条的规定，公司股票将于本所公告终止上市决定之日起五个交易日内摘牌。本所要求公司按照 规定，做好股票终止上市以及后续有关工作。 ...

Group 1 - *ST Tianmao has voluntarily applied for termination of its stock listing, with the Shenzhen Stock Exchange deciding to delist the company effective September 25, 2025 [1][4] - The company primarily engages in insurance business through its subsidiaries, Guohua Life and Huarui Insurance, with insurance-related revenue accounting for 99.99% of its main business income [4] - The company announced its intention to withdraw its A-share listing in August 2025, citing significant uncertainties due to business restructuring [4] Group 2 - The company provided investors with a cash option for shares at a price of 1.60 CNY per share, with approximately 1.442 billion cash options effectively declared during the exercise period [5] - As of July 18, 2025, the company had 112,000 shareholders, and its last trading price before suspension was 1.58 CNY per share, giving it a market capitalization of approximately 7.7 billion CNY [5] - The stock will not enter a delisting adjustment period as per the Shenzhen Stock Exchange listing rules, meaning the delisting process will be immediate [4]

*ST天茂（000627）(000627.SZ)发布公告，公司于2025年9月25日收到深交所《关于天茂实业集团股份 有限公司股票终止上市的决定》(深证上〔2025〕1051号)，深交所决定终止公司股票上市。公司股票自 深交所公告终止上市决定之日起五个交易日内予以摘牌，公司股票终止上市。 ...

Core Viewpoint - The company *ST Tianmao (000627.SZ) has received a decision from the Shenzhen Stock Exchange to terminate its stock listing, effective September 25, 2025 [1] Group 1 - The Shenzhen Stock Exchange has issued a notice regarding the termination of the company's stock listing [1] - The company's stock will be delisted within five trading days following the announcement of the termination decision [1]

Core Viewpoint - *ST Tianmao's stock will be delisted from the Shenzhen Stock Exchange, with the decision effective immediately, and the stock will be removed within five trading days [1][2]. Group 1: Delisting Announcement - On September 25, *ST Tianmao received a notice from the Shenzhen Stock Exchange regarding the termination of its stock listing [1]. - The stock will not enter a delisting transition period and will be delisted within five trading days from the announcement [2]. Group 2: Shareholder Meeting and Cash Option - On August 25, *ST Tianmao held an extraordinary general meeting where shareholders approved the decision to voluntarily terminate the stock listing [5]. - The company initiated a cash option mechanism to protect investors, allowing eligible A-share shareholders to exercise cash options at a price of 1.60 yuan per share, with a total of 1,442,279,537 cash options effectively declared during the application period [5]. - The total funding required for the cash options is approximately 2.3 billion yuan [5]. Group 3: Post-Delisting Arrangements - After delisting, *ST Tianmao's shares will be transferred to the National Equities Exchange and Quotations system for trading [6]. - The company has appointed Changcheng Guorui as the agency to manage the share transfer services [6].

Core Points - *ST Tianmao (000627) has received a decision from the Shenzhen Stock Exchange to terminate its stock listing, effective within five trading days from the announcement date [2] - The company will not enter a delisting adjustment period, and its stock will be delisted directly [2] Group 1 - To protect investor interests, the company will initiate a mechanism for dissenting shareholders and other shareholders, providing cash options to eligible A-share shareholders [5] - Each eligible A-share shareholder can exercise cash options for every 1 share held at a strike price of 1.60 yuan per share, with a total of 1,442,279,537 cash options effectively declared during the application period [5] - The total funding required by Jingmen Weituo Hongcheng Management Partnership for the cash options is approximately 2.3 billion yuan [5] Group 2 - After the termination of the stock listing, the company will transition to the National Equities Exchange and Quotations (NEEQ) system for trading [5] - The company has appointed Changcheng Guorui as the agency for share transfer services and has authorized it to handle various securities registration and settlement matters [5]

证券代码：000627 证券简称：*ST天茂 公告编号：2025-064 天茂实业集团股份有限公司 关于收到股票终止上市决定的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 特别提示： 1、终止上市的证券种类：人民币普通股，证券简称：*ST天茂，证券代码： 000627，终止上市决定日期：2025年9月25日。 2、根据《深圳证券交易所股票上市规则》第9.7.11条的相关规定，"上市公 司主动终止上市的，不设退市整理期"。因此，天茂实业集团股份有限公司（以 下简称"公司"）股票不进入退市整理期。 3、请投资者、证券公司等市场主体在股票摘牌前及时了结股票质押式回购、 约定购回、融资融券、转融通、深股通等业务。 4、对于将在股票摘牌后至完成退市板块初始登记期间到期的司法冻结业务， 建议有权机关在股票摘牌前通过原协助执行渠道提前办理续冻手续。 根据《深圳证券交易所股票上市规则》相关规定及公司2025年第一次临时股 东会决议，公司以股东会决议方式主动终止股票在深圳证券交易所（以下简称 "深交所"）的上市交易。 2025年9月4日，公司向深交所提交了主动终止上市申请 ...

Group 1 - The company has announced the voluntary termination of the cash option for its stock listing through a shareholders' resolution [1][4] - The cash option was identified by the code 038042 and referred to as Tianmao TMP1, with the underlying security being *ST Tianmao [2] - The exercise ratio for the cash option was set at 1:1, allowing holders to sell one share of the company for each option held [2] Group 2 - During the cash option application period from September 15 to September 19, 2025, a total of 1,442,279,537 cash options were effectively applied for [3] - The effective applications for the cash options have been successfully settled [3]

证券代码：000627 证券简称：*ST天茂 公告编号：2025-063 天茂实业集团股份有限公司 关于以股东会决议方式主动终止公司股票上市 现金选择权申报结果的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 天茂实业集团股份有限公司（以下简称"天茂集团"或"公司"）已于2025 年9月3日披露了《关于以股东会决议方式主动终止公司股票上市现金选择权派发 的公告》，于2025年9月10日披露了《关于以股东会决议方式主动终止公司股票上 市现金选择权行权暨实施的公告》，并分别于2025年9月15日、2025年9月16日、 2025年9月17日、2025年9月18日、2025年9月19日披露了《关于以股东会决议方式 主动终止公司股票上市现金选择权行权暨实施的提示性公告》。 本次现金选择权的基本条款如下： （二）现金选择权的标的证券 标的证券代码：000627 标的证券简称：*ST天茂 （三）现金选择权的行权比例 行权比例为1:1，即现金选择权持有人每持有1份该等权利有权向现金选择权提 供方出售1股公司股份。 本次现金选择权的申报期为2025年9月15日至2025年 ...

New Stock Issuance - New stock issuance includes Yunhan Xincheng at an issuance price of 27.00 and Ruili Kemi at 42.28[1] - New stock listing includes Shichang Co., Ltd. at an issuance price of 10.90[1] Cash Options and Delisting - Cash option declaration period for *ST Tianmao is from September 15 to September 19, 2025[1] - *ST Zitian is in the delisting arrangement period with 10 trading days remaining[1] Abnormal Fluctuations - Abnormal fluctuations reported for multiple stocks including Xian Dao Intelligent and Hangke Technology[2] - Significant trading volume changes noted for stocks such as Ji Shi Media and Yunnan Tourism[1] Market Insights - The report highlights the importance of monitoring new stock listings and cash options for investment strategies[1] - Investors are advised to pay attention to stocks under abnormal fluctuations as potential investment opportunities[2]