Biocause Pharma(SZ:000627) Xin Lang Cai Jing·2025-08-09 07:29Core Viewpoint - *ST Tianmao (000627.SZ) announced its intention to voluntarily delist from the Shenzhen Stock Exchange, marking the third company to apply for voluntary delisting in A-shares this year [1][2]. Group 1: Delisting Announcement - The company plans to withdraw its A-share listing through a shareholder resolution and subsequently apply for management in the delisting section of the National Equities Exchange and Quotations [1]. - The decision to delist is attributed to significant uncertainties arising from the restructuring of Tianmao Group, which may have a substantial impact on the company [1][2]. Group 2: Shareholder Protection Mechanism - To protect investors, the company will implement a mechanism for dissenting shareholders and other shareholder protection measures [2]. - A cash option will be provided to all A-share shareholders, excluding certain major shareholders, at a price of 1.60 CNY per share, representing a premium of approximately 10% over the last trading price of 1.45 CNY per share [2]. Group 3: Comparison with Other Companies - In comparison, Yulong Co. (601028.SH) offered a cash option at 13.2 CNY per share, a premium of about 1.23% over its last trading price, while AVIC Capital (600705.SH) offered 3.54 CNY per share, a premium of approximately 2.91% [2]. Group 4: Company Profile - *ST Tianmao operates primarily as an investment holding company, with 99.99% of its main business revenue derived from insurance operations through its subsidiaries, Guohua Life and Huarui Insurance [2].