Zheng Quan Shi Bao Wang·2025-08-06 15:38Core Viewpoint - *ST Tianmao is facing a potential delisting crisis but has announced a significant development as its controlling shareholder, Xinliyi Group, plans to undertake a "major matter" [2][4]. Group 1: Major Developments - Xinliyi Group announced on August 6 that it is planning a "major matter" related to *ST Tianmao, leading to the company's stock suspension starting August 7 [4]. - The suspension is expected to last no more than two trading days due to the uncertainty surrounding the major matter [4]. Group 2: Financial Reporting and Delisting Risk - *ST Tianmao has been under delisting risk since July 8 due to its failure to disclose the 2024 annual report and the 2025 first-quarter report within the legal timeframe [4]. - If *ST Tianmao does not disclose more than half of its board's assurance of the 2024 annual report within two months after July 8, the Shenzhen Stock Exchange will decide to terminate its stock listing [4]. - As of August 6, *ST Tianmao has not yet disclosed its financial reports, although the company claims it is working to complete the necessary documentation [4]. Group 3: Company Overview and Market Performance - *ST Tianmao operates as an investment holding company primarily engaged in insurance through its subsidiaries, Guohua Life and Huari Insurance [5]. - Guohua Life, established in November 2007, has total assets of 271.599 billion and net assets of 26.22 billion as of June last year [5]. - Since July 8, *ST Tianmao's stock price has dropped over 40%, currently trading at 1.45 yuan per share with a total market value of 7.1 billion [5]. - Recently, the stock has shown signs of recovery with a two-day increase of over 4% [5].