太突然！“曾花2.8亿港元买只杯子”的资本大佬，旗下公司拟主动退市！

Core Viewpoint - *ST Tianmao, once a prominent player in the capital market, is set to voluntarily withdraw from A-share trading due to a prolonged "annual report crisis" and significant financial losses, leading to a drastic decline in its stock price and market value [1][2][3] Company Overview - *ST Tianmao, originally established as a chemical factory in 1993, has transitioned to the financial and insurance sector, with 99.99% of its revenue derived from its subsidiaries, Guohua Life and Huarui Insurance [2] - The company has faced regulatory scrutiny after failing to disclose its annual report on time, resulting in a stock price drop of over 50% since late April [2][3] Financial Performance - The company is projected to incur a loss of between 500 million to 750 million yuan for the year 2024, attributed to a declining interest rate environment affecting its life insurance subsidiary [9][10] - The latest financial data indicates a significant drop in revenue, with expected operating income between 4 billion to 4.3 billion yuan, down from approximately 4.97 billion yuan in the previous year [10] Voluntary Delisting Decision - On August 8, *ST Tianmao announced its intention to voluntarily delist, citing business restructuring and significant uncertainties that could impact the company [3][6] - The decision requires approval from the shareholders' meeting, with a cash option offered to shareholders at a price of 1.60 yuan per share, representing a 10% premium over the current stock price [1][12] Shareholder Dynamics - The controlling shareholder, Liu Yiqian, and associated entities hold approximately 66.78% of the company's shares, which is just above the two-thirds threshold needed for the delisting vote [11] - The company has approximately 111,900 shareholders, many of whom face difficult choices regarding accepting the cash option or retaining their shares [12][15] Regulatory Implications - Even after delisting, *ST Tianmao will remain a public company and must continue to fulfill its reporting obligations, with potential legal repercussions for past regulatory violations [15]